CapMoore

Bearish Flag Pattern Triggered Along with a Kumo Break

FX:EURUSD   Euro Fx/U.S. Dollar
51 0 2
Last weeks close gave a bearish Kumo Cloud break along
with a break and close below the flag pattern. Price did also
manage to close below the Monthly S1. Current bounce
may give opportunities to sell into, using lower timeframes
for sell signals. On Monthly time frame however, price is still
trading within a defined sideways range. Weakness around
1,1080-1,11 could be used to sell, targeting 1,08 at first and
, following the broken flag pattern, at least eyeing the multi
year low. A break below 1,08 will increase the validity of the
triggered flag pattern. A weekly close inside the flag again, will
pause bearish prospects.
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