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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: flat in the downward "wedge"

Sergey Logachev

EUR/USD: flat in the downward wadge

The market has been consolidating in a support zone between the levels 1.1145 – 1.1032. It’s likely to see a decline towards a support area at 1.1067 – 1.1057. If a pullback arrives afterwards, then the price might start rising to a resistance at 1.1178.

EUR/USD: flat in the downward wadge

We’ve got a flat between the nearest resistance at 1.1113 and the 55 Moving Average line. There's a possible downward “Wedge”. It’s likely that bears are going to reach an area between the 89 Moving Average line and the important level at 1.1057. If sellers be stopped here, then buyers are probably going to achieve a resistance at 1.1178.

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