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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 are preparing for a correction

EUR/USD: bears is preparing for a short term correction

There's a “Thorn” pattern, which helped bears to move on. Currently, the price achieved the 55 Moving Average and the uptrend line. Considering previously formed bearish patterns, it's likely that the market is going to break these levels. If so, the main bearish target will be a support at 1.1327, which is strong enough to enter the pair into an upward correction phase.

EUR/USD: bears is preparing for a short term correction

We've got a new low, but overall the pair is moving in a flat. So, the price is likely going to get a support somewhere on the nearest Moving Averages. If we see a pullback from these lines, there'll likely be even more bearish pressure on the market.

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