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EUR/USD technical analysis: Adds 8 pips in Asia, remains trapped in a bear flag

29 days ago   |   By FXCM

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...
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