EUR/USD: developing "Flag" pattern

EUR/USD: developing "Flag" pattern

3-11-2017-EUR-H4.png

The price is consolidating between the levels 1.1695 - 1.1582. Also, there's a developing "Flag" pattern, so the market is likely going to reach the nearest resistance at 1.1724 - 1.1729. If a pullback from this area happens, there'll be an opportunity to have a decline towards the closest support at 1.1634 - 1.1615.

3-11-2017-EUR-H1.png

There's a consolidating, which is taking place between the 55 & 89 Moving Averages. Moreover, we've got a "V-Top" pattern, so bears are likely going to test the 34 Moving Average soon. If a pullback from this line arrives little later on, bulls will probably try to reach the next resistance at 1.1695 - 1.1724.

eur

Similar

Popular

Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera