EUR/USD has been trading sideways at the price of 1.1270. The price is still trading inside of the trading range.
According to the H4 time-frame, we found that potential bearish flag pattern is in creation and that buying looks risky. We found few tests of the resistance at the price of 1.1286 and as long as this resistance is holding, we see potential downside break. Support level is seen at the price of 1.1228 and key short-term support at 1.1186.
Our advice is to watch for potential breakout of the bearish flag pattern to look for selling opportunities with target at 1.1186.
The material has been provided by InstaForex Company - www.instaforex.com
No comments:
Post a Comment