EUR/USD Bull Flag Playing Out. An Opportunity to Long? | Vantage FX

EUR/USD Bull Flag Playing Out. An Opportunity to Long?

December 15, 2017

Good morning traders,

If you’re a reader of the blog, you’d know that we’ve been watching the bull flag on EUR/USD. If you’re not, then please click the link to that last blog and take a look at why I’ve drawn some of those key higher time frame levels before we continue.

The EUR/USD daily chart is pretty much the same, but price is starting to bounce off the horizontal line that we had on our charts from before. Potential higher time frame resistance that we’re looking to turn to support if the bull flag is going to break out:

EUR/USD Daily:

Click on chart to see a larger view.

Now after looking at the higher time frame chart, take a step down into the hourly chart and take a look at the price action that’s unfolding:

EUR/USD Hourly:

Click on chart to see a larger view.

So if the higher time frame bull flag and possible retest of previous resistance as support is telling us to look for longs, this level could be one such opportunity.

1 to 2 shows a higher high signaling a possible intraday trend reversal and then 3 is a simple retest of previous short term resistance as possible support. A level to manage our risk around if getting long.

Best of probabilities to you!

Dane Williams – Vantage FX

Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by Vantage FX Pty Ltd does not contain a record of our prices or solicitation to trade. All opinions, news, research, tools, prices or other information is provided as general market commentary and marketing communication – not as investment advice. Consequently, any person acting on it does so entirely at their own risk. The expert writers express their personal opinions and will not assume any responsibility whatsoever for the forex trading account of the reader. We always aim for maximum accuracy and timeliness, and Vantage FX shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on this service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.




Fast & Easy Account Opening Start Now!

  • Please enter a valid data!

  • Please enter a valid data!

  • Please enter a valid data!

  • Please enter a valid data!

  • Please enter a valid data!

Vantage International Group Limited is regulated by CIMA.


Vantage International Group Limited does not accept clients from Australia.
Due to regulatory requirements, when you click ‘continue’ you will be redirected to the Australian website of Vantage FX, which is operated by Vantage Global Prime Pty Ltd - a company registered in Australia and regulated by the Australian Securities and Investments Commission (ASIC), AFSL no. 428901.

Forex Promotions

Open a live account today to gain exclusive access to our 8 Forex Promotions. 

Find out more.