EUR/USD: "Flag" led to upward price movement

2019-11-11 • Updated


The main trend is still bullish, and there's a new local high. It's likely that the pair is going to test the next resistance at 1.2596 - 1.2600. If a pullback from this area happens, there'll be a moment to have a decline towards the nearest support at 1.2493 - 1.2453.


The last "Flag" pattern led to the current upward price movement, but there's a "V-Top", so we're likely going to have a downward correction. Meanwhile, if a pullback from the nearest support at 1.2493 - 1.2473 happens little later on, we could have another bullish rally.


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