EUR/USD analysis for March 05 2021 – Bear intraday flag pattern in creation and potential for another drop towards 1.1850

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EUR/USD analysis for March 05 2021 - Bear intraday flag pattern in creation and potential for another drop towards 1.1850

EUR/USD analysis for March 05 2021 – Bear intraday flag pattern in creation and potential for another drop towards 1.1850

UK February Halifax house prices -0.1% vs 0.0% m/m expected

Latest data released by Halifax – 5 March 2021

  • Prior -0.3%
  • House prices +5.2% vs +4.6% y/y expected
  • Prior +5.4%

Slight delay in the release by the source. After a relatively robust period of housing market activity, average prices are seen down slightly to start the year but are comfortably much higher than what they were a year ago.

Further Development

EUR/USD analysis for March 05 2021 - Bear intraday flag pattern in creation and potential for another drop towards 1.1850

Analyzing the current trading chart of EUR/USD, I found that EUR is trading downside with increase on volume and that we might see more downside continuation.

Key Levels:

Resistance: 1,1975

Support levels: 1,1845

The material has been provided by InstaForex Company – www.instaforex.com

Source : https://www.fx.co/forex_analysis/quickview/210512/