FX.co ★ EUR/USD analysis for August 17, 2023 - Potential bear flag pattern

Technical analysis:

EUR/USD has been trading upside this morning and I found potential for the bear flag pattern and end of upside correction.

Due to the downside condition in the background and potential bear flag pattern in creation, I see potential for the further drop towards lower references.

Downside objectives are set at the price of 1.0863 and 1.0835

Resistance level is set at the price of 1.0885