Euro / DollaroLong
EUR/USD LONG [BEARISH FLAG]
EUR/USD has been in an uptrend since last May.
Previously it had formed a bearish flag that continued the uptrend.
Currently I see another possible bearish flag forming that could once again indicate a big buy that is about to happen.
The price is currently touching the bottom trend line which indicates a reversal to continue the bearish flag, and adding to the confluence the price is also at a important support level which the price is failing to break.
Therefore I expect the price to increase until the upper trend line completing the bearish flag pattern.
The expected movement of the price is shown by the grey path drawn.
Previously it had formed a bearish flag that continued the uptrend.
Currently I see another possible bearish flag forming that could once again indicate a big buy that is about to happen.
The price is currently touching the bottom trend line which indicates a reversal to continue the bearish flag, and adding to the confluence the price is also at a important support level which the price is failing to break.
Therefore I expect the price to increase until the upper trend line completing the bearish flag pattern.
The expected movement of the price is shown by the grey path drawn.
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