TipTVFinance

EUR/USD – Stuck at 200-DM, flag and pole on 15-min chart

FX_IDC:EURUSD   Euro / U.S. Dollar
Post Fed offers around USD pushed EUR/USD             well above 1.10 handle, but the momentum ran out of steam near 200-DMA             level of 1.1075, leaving the spot in a flag and pole formation on the hourly chart.

At 1.1065, the currency pair is flirting with flag support, while flag resistance is seen at 1.1082

Bullish break would suggest a sharp recovery from 1.0960 (post Fed low) has resumed and could yield a test if 1.11-1.1130 levels.

On the other hand, a bearish break would not only market rejection at daily 200-Ma, but also shift risk in favor of a drop to 1.10960 levels (previous day’s low).
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