EUR/USD: "Flag" calling bulls to deliver new high
As we can see on the four-hour chart, a bullish movement is taking place. The price found a resistance at 1.1235, which led to the current local consolidation. So, buyers are likely going to move on, which makes possible an achievement of the nearest trend line. If we see a pullback from the trend, a downward correction becomes possible.
There’s a consolidation between the nearest resistance at 1.1235 and support at 1.1196. Also, we’ve got a “Flag”, so the pair is likely going to move up towards the closest resistance. However, bears will probably try to deliver a correction afterwards.