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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: bears going to reach next support

EUR/USD: bears going to reach next support

There’s a “Double Top” pattern, which has been formed under a resistance at 1.1381. However, the price faced a support by the 34 Moving Average afterwards, so there’s a local upward correction on the way. Considering a confirmation of the last “Double Top”, the market is likely going to continue falling down towards the next support at 1.1235 – 1.1222. If a pullback from this area happens, there’ll be an opportunity to have another upward movement.

EUR/USD: bears going to reach next support

The price faced a support at 1.1253, which led to form a “V-Bottom” pattern, so the price is currently rising. Also, we’ve got a “Pennant” pattern here, so the price is likely going to reach a support at 1.1235 – 1.1222 during the day. At the same time, if we see a pullback from these levels, bulls will probably try to catch a resistance at 1.1282 – 1.1324.

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