RLinda ! EURUSD-> The pair shows a bear flag. What to expect?

2023年2月10日

EURUSD is moving into a correction phase. The price is resting against the conditional support at 1.065 and forming a bearish flag. This pattern shows us the potential to revive the fall further.

The price is testing the support zone of 1.07116 in a bearish flag format. Breakdown of the support of the local range may lead to the liquidation of the buying liquidity and activation of the momentum for a strong bearish impulse.

However I expect in the near term an exit of the price from the range downwards, breakdown of the support of 1.07116 and price movement towards 1.065, and then to 1.0430

Regards R. Linda!