EUR/USD:SHORT from BEARISH FLAG Pattern | New SELL Setup !
Updated
Well, EUR/USD with the accomplice of the low volume of the August , in the last session finds the price inside an accumulation area, this last one forms a pattern of technical analysis called Bearish Flag. The bearish flag is a candlestick chart pattern that signals the extension of the downtrend once the temporary pause is finished. As a continuation pattern, the bear flag helps sellers to push the price action further lower.
After a strong downtrend, the price action consolidates within the two parallel trend lines in the opposite direction of the downtrend. Once the supporting trend line gets broken, the bear flag pattern is activated as the price action continues trading lower. We saw this pattern already in the recent past, as you can see in the chart I've highlighted this scenario. A great Tip I would share with you today is looking also the indicators pattern. Well the RSI had the same pattern in agreement on the same area where the Pattern appears. We are approaching a new Bearish push-down of the prices.
After a strong downtrend, the price action consolidates within the two parallel trend lines in the opposite direction of the downtrend. Once the supporting trend line gets broken, the bear flag pattern is activated as the price action continues trading lower. We saw this pattern already in the recent past, as you can see in the chart I've highlighted this scenario. A great Tip I would share with you today is looking also the indicators pattern. Well the RSI had the same pattern in agreement on the same area where the Pattern appears. We are approaching a new Bearish push-down of the prices.
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