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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 go ahead the trend line

EUR/USD: bears go ahead the trend line

The price has faced a resistance near the downtrend line, so we’ve got a “V-Top” at the local high, which led to the current decline. Therefore, the market is likely going to continue falling down towards a support at 1.1085, which is strengthened by the uptrend line. If a pullback from this line happens, there’ll be a chance to see an upward correction.

EUR/USD: bears go ahead the trend line

The last local flat has been finally ended by the current bearish rally. Also, there’s a “V-Top” on the Moving Average lines, so bears are likely going to move on towards a support at 1.1097 – 1.1085. If sellers be stopped somewhere in this area, a local rise becomes possible. 

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