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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: technical analysis

Sergey Logachev

EUR/USD: technical analysis

The main trend on the EUR/USD pair is a still bullish one. Yesterday the market was consolidating between Moving Average lines, but finally all of them were broken by the bearish rally. The downward movement reached a support at the level 1.1011. It's likely to see a contracting to a support area near the up trend line, but then there's the possibility that an upward movement will start towards a resistance area between the levels 1.1032 - 1.1145.

EUR/USD: technical analysis

The market had a local flat on Monday, but then bears came back to the market. The level 1.1011 was acted as a support line. It's likely that we've got a “Pennant” pattern here, so the pair has a reason to go even lower to an area between the level 1.0975 and the up trend line. The price might start an upward movement afterwards to a resistance area between the levels 1.1032 – 1.1145.

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