munyaelliott
Short

EUR/USD 1-HOUR TIMEFRAME SHORT (AFTER BEAR FLAG PATTERN)

OANDA:EURUSD   Euro / U.S. Dollar
The EUR/USD currency pair is moving in a descending channel on the 4-hour timeframe, and prices have just broken out of a counter trend ( ascending channel ) on the 1-hour timeframe. I expect further downside of the pair after a small consolidation (breather/correction/pause) in the form of a bear flag pattern. However note that prices might skip this stage if bears are looking for "skin" (powerful enough). This should be a good scaling trade and the target is at the bottom of the ascending channel pattern at the price level 1.11870.
Comment: Target hit!!!
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