Hi traders,
the EUR/USD is building a bear flag chart pattern which is retesting a key resistance zone. A break below the bottom of the bear flag chart pattern could confirm the downtrend continuation.
The EUR/USD could also make a bearish bounce at the resistance zone (red box) or trend line (red). Both scenarios would confirm a downtrend and bearish breakout. The main targets are the Fibonacci levels of wave 3 vs 1.
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Good trading, Chris Svorcik
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