EUR/USD: "Flag" pattern has been broken

EUR/USD: "Flag" pattern has been broken


The last "Flag" pattern has been broken, so bulls faced resistance at 1.1679. Nevertheless, the market is likely going to reach the next resistance at 1.1712 in the coming hours. If a pullback from this level happens, there'll be an opportunity to have a decline towards the nearest support at 1.1615.


Bulls went through the upper side of the last "Pennant" pattern. It's likely that we're going to see the price even higher. The main intraday target is the next resistance at 1.1712, which could be a departure point for a downward correction.



EURUSD: bearish "High Wave"

We could have a local downward correction towards the nearest support. If a pullback from this area happens...


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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