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EUR/USD Holds Above 1.30 in a Flag Pattern Breakout
Flag breakout: The EUR/USD is starting the week with a flag pattern breakout. The flag pattern was developed since last week’s high at 1.3139. After Friday’s (10/19) sell-off, it found support just above 1.30. As we approach the 10/22 US trading session, the break is extending toward a key pivot in the 1.3080-1.3085 area. A break above this area reflects bullish continuation attempt in the short-term. Key trendlines: The flag breakout in EUR/USD introduces the bullish continuation outlook, but one that is held in the short-term, with focus on the 1.3139-1.3150 area because there is a very important declining ... (full story)
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