EUR/USD remains trapped in an inverted bear flag pattern on the 4-hour chart. A flag breakdown, if confirmed, could accelerate the drop to levels below 1.10. EUR/USD picked up a bid at 1.1084 at 00:00 GMT and rose to 1.1092 a few minutes before press time. As of writing, the currency pair is trading at 1.1089. The buyers failed to keep the pair above 1.11 for the third straight day on Wednesday. The repeated rejection above 1.11 could end up inviting stronger selling pressure. The bearish view would strengthen if the pair drops below 1.1065, confirming an inverted flag breakdown on the 4-hour chart. A flag breakdown is a pause that often ends up accelerating the preceding bearish move. So, a flag breakdown, if confirmed, could yield a sell-off to levels below 1.10. A drop below 1.1065 could be seen later today if the German and Eurozone preliminary Purchasing Managers’ Index prints below estimates, reinforcing the dovish European Central Bank (ECB) expectations. 4-hour chart Trend: Bearish Pivot points FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next XpertHR data: UK employers’ pay deals hit 10-year high – Reuters FX Street 4 years EUR/USD remains trapped in an inverted bear flag pattern on the 4-hour chart. A flag breakdown, if confirmed, could accelerate the drop to levels below 1.10. EUR/USD picked up a bid at 1.1084 at 00:00 GMT and rose to 1.1092 a few minutes before press time. As of writing, the currency pair is trading at 1.1089. The buyers failed to keep the pair above 1.11 for the third straight day on Wednesday. The repeated rejection above 1.11 could end up inviting stronger selling pressure. The bearish view would strengthen if the pair drops below 1.1065, confirming an inverted flag breakdown… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
