EUR/USD: bearish "Flag" pattern

EUR/USD: bearish "Flag" pattern


The price is consolidating between the levels 1.1909 - 1.1875. It's likely that bears are going to test the 55 Moving Average, so we could have a new local low soon. However, if a pullback from this line happens, there'll be an opportunity to have an upward price movement towards the nearest resistance at 1.1909 - 1.1959.


There's a consolidation, which is taking place above the 89 Moving Average. It seems like we're going to have a "Flag" pattern. If so, bears will probably try to test the closest support area at 1.1827 - 1.1822. Meanwhile, if a pullback from these levels happens, we could have an upward correction.



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