FX.co ★ EURUSD M15: Bearish Flag

The Bearish Flag pattern has been formed on EURUSD at M15. The lower boundary of the pattern is located at 1.1772/1.1780 while the upper boundary lies at 1.1780/1.1788. The projection of the flagpole is 16 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 1.1772 is broken, the price will move further downwards.