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I've been trading for 15 years, so I have a lot of things to share. I use the classic technical analysis, which is one of the most powerful tool for any trader.

EUR/USD: "V-Top" stood in the way of buyers

EUR/USD: "V-Top" stood in the way of buyers

The pair has faced resistance on the main downward trend, so we’ve got a “V-Top” pattern, which led to the current decline. Therefore, the market is likely going to get a support at 1.1130 – 1.1120 in the short term. However, if a pullback from this area happens, bulls will probably try to catch a resistance at 1.1186 – 1.1222.

EUR/USD: "V-Top" stood in the way of buyers

There’s a “V-Top” pattern, which has stopped the last bullish rally. Also, we’ve got a support by the 34 Moving Average. So, it’s likely to see an upward movement in the direction of the nearest resistance at 1.1186 – 1.1196 during the day. Nevertheless, bears are still in the game, so we should keep an eye on the next support at 1.1136 – 1.1130 as a possible intraday target.

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