EUR/USD: "Flag" pattern

EUR/USD: "Flag" pattern


The last "Flag" pattern has been broken, so the price is consolidating. The main intraday target is the next support area at 1.1582 - 1.1560. If a pullback from these levels happens, there'll be an opportunity to have a bullish correction in the direction of the closest resistance at 1.1668 - 1.1695.


The price is consolidating between the levels 1.1615 - 1.1601. Also, there's a "Flag" pattern, so the pair is likely going to test the 55 Moving Average in the coming hours. If a pullback from this line happens little later on, we could have another decline towards the nearest support at 1.1574 - 1.1560.




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…

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