FX.co ★ EUR/USD analysis for September 06, 2023 - Bear flag pattern in creation

Technical analysis:

EUR/USD has been trading in the sideways at the price of 1.0730 but I see potential for the downside continuation.

Due to the short-term downside trend and the potential for the completion of the bear flag pattern, I see option for the further drop towards lower references.

Downside objectives are set at the price of 1.0670 and 1.0640

MACD oscillator is showing downside reading with no evidence for the reversal, which is good sign for the further downside movement.

Key resistance is set at the price of 1.0775