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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: "Double Top" brought bears into the market

EUR/USD: "Double Top" brought bears into the market

The price has faced a resistance at 1.1419, which led to form a “Double Top” pattern, so we’ve got the market at a support at 1.1282. Therefore, the pair is likely going to reach the 89 Moving Average in the short term. If we see a pullback from this line, bulls will probably try to achieve a resistance at 1.1326 – 1.1357 afterwards.

EUR/USD: "Double Top" brought bears into the market

Bears are pushing the price lower and lower. We’ve got a local support at 1.1297, but it’s very likely that the current decline is going to move on, so we should keep an eye on a support at 1.1282 as the next possible target. If this level stops sellers, an upwards correction becomes possible.

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