EUR/USD: 'Flag' pattern led to decline

EUR/USD: 'Flag' pattern led to decline


The main trend is still bearish. There's a 'Flag' pattern, so the price is declining. It's likely that the market is going to test the nearest support area at 1.1478 - 1.1444, which could be a starting point for an upward correction.


The last 'Flag' pattern led to the current decline. However, we could have a local upward correction in the coming hours. Even so, bears are likely going to reach the next support at 1.1478 - 1.1444 little later on.




EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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