EUR/USD: bearish 'Flag' pattern

EUR/USD: bearish 'Flag' pattern


The pair is consolidating between the levels 1.1553 - 1.1652. Also, there's a bearish 'Flag' pattern, so the market is likely going to test the next support at 1.1509 - 1.1478 in the short term. A pullback from this area could be a departure point for a bullish correction.


The 34 Moving Average has acted as resistance. Also, there's a bearish 'Flag'. Under this circumstances, the price is likely going to reach the nearest support area at 1.1531 - 1.1509 within the next few hours.



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