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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 celebrating trend breakdown

EUR/USD: bears celebrating trend breakdown

We’ve got a “Triple Top” pattern, which led to the current bearish price movement. Also, the last uptrend has been broken. So, the price is likely going to reach a support at 1.1130 in the short term.

EUR/USD: bears celebrating trend breakdown

The pair faced a support at 1.1176, so we’ve got a local consolidation. In this case, bulls will probably try to achieve a resistance at 1.1235 – 1.1244 during the day. If a pullback from this area happens, there’ll be an opportunity to have another bearish movement towards the next support at 1.1176 – 1.1152.

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