EUR/USD: the last "Flag" put new heart into bears
The last flat has been finally ended by the bearish rally. The price faced a support at 1.1085, so the market is likely going to reach a resistance somewhere between the levels 1.1124 – 1.1167. If a pullback from this area happens, bears will likely try to achieve a support at 1.1085 – 1.1054.
The pair has been declining since a “Triple Top” was formed at the local high. However, there’s an opportunity to see an upward correction during the day. So, we should keep an eye on the nearest resistance at 1.1124 as a possible bullish target. At the same, bears are still in the game, so new lows are coming.