Bearish Continuation Signals in Flag Pattern
The EUR/USD chart appears to be entering a consolidation phase after a strong sell-off, with the price moving in a narrow range between 1.09300 and 1.09840. The highlight is that the pair is forming a continuation flag pattern, which is a sign that the downtrend could resume if the price breaks below the support area. This is further reinforced by the 89 EMA and 34 EMA both being above the current price, adding to the bearish pressure. Traders should be wary of a possible support break, which could lead to a fresh decline.
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