EUR/USD: "Flag" pattern

EUR/USD: "Flag" pattern


The main trend is still bullish. Also, there's a "Flag" pattern, so the market is likely going to test the next resistance at 1.2412 - 1.2445. If a pullback from this area happens little later on, there'll be an opportunity to have a bearish correction.


All the Moving Averages have been broken, so the price is rising. The main intraday target is the nearest resistance at 1.2412 - 1.2445. This area could be a departure point for a downward correction towards the closest support at 1.2387 - 1.2358.



Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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