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: bulls will use to advantage the "Flag"

Sergey Logachev

EUR/USD: bulls are going to use to advantage the "Flag"

The pair has found a support at 1.1233, which led to form a local “V-Bottom” pattern, so the price got a resistance by the 89 Moving Average afterwards. The market is likely going to deliver a new intraday high and then start a movement towards a support at 1.1195 – 1.1166. If bears be stopped somewhere in this area, there'll be bulls' turn to play, so we should keep an eye on one of the important resistances at 1.1217 – 1.1233.

EUR/USD: bulls are going to use to advantage the "Flag"

The price has been rising since a “V-Bottom” was formed at the local low. A few hours later, the pair faced a resistance at the 34 Moving Average, which brought a possible “Flag” pattern. Therefore, the market is likely going to achieve the 55 Moving Average. If a pullback from this line happens, it'll be a chance to see a new bearish rally towards the last low.

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