Recently, the EUR/USD pair has been trading downwards. As I expected, the price tested the level of 1.1304. According to the H1 time – frame, I have found a broken bearish flag in the background, which is a sign of weakness. Most recently, I found the breakout of the short – term head and shoulders (bearish pattern), which is another sign of weakness. My advice is to watch for selling opportunities and go with the direction of the short – term trend. The downward target is set at the price of 1.1215.
The material has been provided by InstaForex Company - www.instaforex.com