EUR/USD Edges Lower as Bearish Flag Pattern Emerges

The euro traded marginally lower on Monday, approaching the 1.1432 level against the U.S. dollar during the European session. The slight decline came as the greenback recovered from earlier losses, weighing on the EUR/USD pair.

Technical analysis points to a bearish flag pattern forming on the charts, which typically suggests that the downtrend may continue. The pattern indicates that the pair could see additional downside pressure in the near term if the flag's lower boundary breaks.

Market participants are closely watching key support and resistance levels, with the bearish outlook reinforced by the dollar's recent strength. Further economic data releases this week could provide additional direction for the pair.