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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: "Pennant" points to another upward movement

EUR/USD: "Pennant" points to another upward movement

The price is moving up and down on the four-hours chart. Bears faced a support at 1.1165, so the market is likely going to reach the nearest resistance near the downtrend line. If a pullback from this level happens, there’ll be an opportunity to have a decline towards the 89 Moving Average.

EUR/USD: "Pennant" points to another upward movement

There’s a “Pennant” pattern, so the price is likely going to achieve a resistance at 1.1269 – 1.1278 during the day. However, if we see a pullback from this area, bears will probably try to catch the nearest support at 1.1212.

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