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    EUR/USD: incomplete a-b-c unfolding

      EUR/USD continued its mini-down-trend till it found support at the 1.0818 lows, rebounding very sharply from there yesterday, and forming what looks like an incomplete a-b-c correction – or a sort of flag pattern.

    Both interpretations would anticipate a further move higher, which will probably reach the 1.1048 support and resistance level. Such a move would be confirmed by a break above the flag highs at 1.0968.

    EURUSD22

       
    EUR/USD continued its mini-down-trend till it found support at the 1.0818 lows, rebounding very sharply from there yesterday, and forming what looks like an incomplete a-b-c correction – or a sort of flag pattern.

    Both interpretations would anticipate a further move higher, which will probably reach the 1.1048 support and resistance level. Such a move would be confirmed by a break above the flag highs at 1.0968.

    EURUSD22


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