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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: price wallow in consolidation

EUR/USD: price wallow in consolidation

There’s a consolidation, which is taking place on the four-hours chart. It’s likely that the price is going to reach a support at 1.1196 in the short term. If we see a pullback from this level, there’ll be an opportunity to have an upward movement in the direction of the nearest resistance at 1.1256.

EUR/USD: price wallow in consolidation

The price is moving up and down between the levels 1.1247 – 1.1196. Therefore, bears are likely going to get a support at 1.1196 – 1.1190 during the day. However, if sellers be stopped here, then bulls will probably try to achieve the closest resistance at 1.1256 – 1.1258.

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