EURUSD trapped inside bear flag
The euro continues to struggle with major weekly resistance against the US dollar with bulls so far failing to move the pair above the 1.1290 level. The one-hour time frame is showing that the EURUSD is trapped inside a bear flag pattern, with trendline resistance located close to the 1.1290 level. Key technical support from the flag pattern is currently located around the 1.1240 level
The EURUSD pair is only bullish while trading above the 1.1250 level, key technical resistance is found at the 1.1290 and 1.1350 levels.
If the EURUSD pair trades below 1.1250 level, key intraday support is found at the 1.1216 and 1.1170 resistance levels.