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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: "Flag" points to possible new high

EUR/USD: "Flag" points to possible new high

There’s a “Double Bottom” pattern, which led to the current upward price movement. Therefore, bulls are likely going to get a resistance at 1.1228 in the short term. If a pullback from this level happens, there’ll an opportunity to have a downward correction in the direction of a support at 1.1181.

EUR/USD: "Flag" points to possible new high

We’ve got another “Double Bottom” on the one-hour chart, which has been confirmed by the last “Flag” pattern. So, the price is likely going to reach a resistance at 1.1225 during the day. However, if we see a pullback from here, bears will probably try to get a support on the 34 Moving Average.

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