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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: bears become wedged

Sergey Logachev

EUR/USD: bears become wedged

There’s a “Double Top” pattern, which has been confirmed. The price faced a support at 1.1245, so we’ve got a downward correction in progress. It’s likely to see the market lower. If the pair forms a pullback from a support area at 1.1217 – 1.1193, then bulls will probably return and try to reach a resistance at 1.1305 – 1.1337.

EUR/USD: bears become wedged

We’ve got a downward flat in a range of possible “Wedge” pattern. If a pullback from its upper side appears, then the price is likely going to reach the lower side and a support at 1.1193. Finally, there’s an opportunity to see bulls on the market again, so a resistance at 1.1305 – 1.1337 is a still important.

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