EUR/USD analysis for December 27, 2018 - ConsultFX

EUR/USD analysis for December 27, 2018


Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1409. Anyway, according to the M30 time frame, I found that the price rejected from the resistance trendline (upper diagonal of the downward channel), which is a sign that buying looks risky. I also found a potential bearish flag in creation, which is another sign of weakness. My advice is to watch for selling opportunities if you see a valid breakout of the support trendline. The downward target is set at the price of 1.1343.

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