EUR/USD Flag Formation

In our Daily FX Commentary for today, we had a short EUR/USD recommendation. Currently price may have just broken down a bearish Flag chart pattern. The target for the bearish Flag pattern is at 1.1100, that is a conservative estimate. If using the bigger movement, the target could be at 1.1050.

Stochastic is still in the oversold extreme and is looking weak at the moment. Both of MACD lines are below zero line and could be about to turn lower.

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