FX.co ★ EUR/USD analysis for August 24 2022 - Breakout of the bear flag pattern

Technical analysis:

EUR/USD has been trading downside today and I see the breakout of the hourly bear flag pattern, which is good confirmation for further downside movement.

Trading recommendation:

Due to the breakout of the bear flag this morning, I see further drop in play.

Watch for potential selling opportunities on the intraday rallies with the downside objectives at 0.9890 and 0.9715.

Stochastic is showing fresh bear cross and potential for the downside rotation.

Key resistance is set at the price of $1.0000