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JoeChampion
Apr 22, 2023 7:23 AM

EURUSD Bear Flag Pattern Short

Euro Fx/U.S. DollarFXCM

Description

Hey Traders, in the coming week we are monitoring EURUSD around 1.09884 zone, The bear flag pattern is a continuation pattern that typically occurs after a significant downtrend, signaling a potential continuation of the bearish trend. In this case, the pattern is forming around the 1.09 zone on the EUR/USD currency pair, indicating a potential sell opportunity. So technically we will wait for a breakout and watch a potential retrace from 1.093 support and resistance zone. Fundamentally USD data seems to be bullish with recent feds comments including Fed Waller about the inflation concerns, Fed Williams have mentioned too that Fed Powell should hike rates in the next FOMC early May which have triggered some Dollar strength.
Trade safe, Joe.

Comments
EricNyamu
higher highs and higher lows forms a bearish pattern in an uptrend bullish market? are you crazy? lol
MASTERPIECE10
Agreed!
FOREXN1
Thanks for sharing , possible view !
locosempire
Same idea
bdrrahman9
noted that
basictradingtv
thanks mate ;)
Alphamoney870
i just went short and now you are short too damn time to go long again. inversing your trades has worked well so far.
WalterMoon
Noted, thank you!
CryptoCheck-
It's possible. Or we could bounce on support. Thanks!
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