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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: "Pennant" brings bears through the new low

EUR/USD: "Pennant" brings bears through the new low

There’s a “Thorn” pattern, which led to the current local correction. Therefore, we’ve got a possible “Pennant” pattern, so the market is likely going to reach a support at 1.1145. If a pullback from this level happens, there’ll be a chance to see another upward correction.

EUR/USD: "Pennant" brings bears through the new low

As we can see in the one-hour chart, the last price movement could turn out like a “Pennant”. So, the lower side of this pattern is likely going to be broken soon. Thereby, we should look closely at a support at 1.1145, because bears will probably train off on this level.

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