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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: "Double Bottom" stopped bears

EUR/USD: "Double Bottom" stopped bears

We’ve got a “Bear’s Trap” under the previously broken “Triangle”, so the price faced a resistance at 1.1196 afterwards. In this case, bulls are likely going to reach the 89 Moving Average in the short term. If we see a pullback from this line, there’ll be an opportunity to have a decline towards a support at 1.1165 – 1.1145.

EUR/USD: "Double Bottom" stopped bears

There’s a consolidation, which is taking place between the nearest resistance at 1.1204 and the 55 Moving Average. So, the price is likely going to achieve a resistance at 1.1219 – 1.1232 during the day. However, if a pullback from this area happens, bears will probably try to catch a support at 1.1168 – 1.1152.

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