EUR/USD: "Flag" pattern led to new low

EUR/USD: "Flag" pattern led to new low


The main local trend is still bearish. The last "Flag" pattern led to a new low. It's likely that the price is going to reach the next support at 1.1533 - 1.1494 in the short term. If a pullback from this area happens little later on, there'll be an opportunity to have a bullish correction.


The 34 Moving Average has acted as resistance, so there's a "Double Top" pattern, which pushed the price to the closest support at 1.1582. The main intraday target is the next resistance at 1.1601 - 1.1605, which could be a departure point for another bearish price movement.



EUR/USD: bullish wave [iii]

There's a pullback from 4/8 MM Level, so the price is rising. It's likely that we're going to have bullish wave...


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