EUR/USD Forecast: “Flag” pattern

eur-usdBears faced with support at 1.1772, so the price is consolidating. Nevertheless, the market is likely going to reach the next support at 1.1756 – 1.1734 in the short term. If a pullback from this area happens, there’ll be an opportunity to have an upward price movement towards the next resistance at 1.1826 – 1.1859.

The price is consolidating between the levels 1.1772 – 1.1808. Also, there’s a “Flag” pattern, so bears are likely going to test the closest support area at 1.1756 – 1.1734. Meanwhile, if a pullback from these levels happens, bulls will probably try to achieve another resistance at 1.1826 – 1.1836.

EUR/USD H4

7-12-2017-EUR-H4.png

EUR/USD H1

7-12-2017-EUR-H1.png

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