EUR/USD: "Flag" points to possible new high
There’s a “Double Bottom” pattern, which led to the current upward price movement. Therefore, bulls are likely going to get a resistance at 1.1228 in the short term. If a pullback from this level happens, there’ll an opportunity to have a downward correction in the direction of a support at 1.1181.
We’ve got another “Double Bottom” on the one-hour chart, which has been confirmed by the last “Flag” pattern. So, the price is likely going to reach a resistance at 1.1225 during the day. However, if we see a pullback from here, bears will probably try to get a support on the 34 Moving Average.