EUR/USD: "Flag" pattern

Read the article on FBS website

7-11-2017-EUR-H4.png

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.

7-11-2017-EUR-H1.png

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.

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.