The EURUSD is developing a bull flag pattern, and reinforced the pattern on the dip to the 1.1686 level, or 38% retracement. For bulls, this level will be critical to hold in the session ahead. A break back above the flag resistance at 1.1750 would reengage the dip buyers.
For the traders looking for a bigger US Dollar bounce, a move back below the 1.1686 level may open the door for a move back below the 1.1600 level.
For the traders looking for a bigger US Dollar bounce, a move back below the 1.1686 level may open the door for a move back below the 1.1600 level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.