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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 have a good mind to move on because of the "Flag"

EUR/USD: bears have a good mind to move on because of the "Flag"

The price has faced a resistance on the 34 Moving Average, which pushed the price a little bit down. However, the current bearish movement could be just a local correction, so the market is likely going to achieve the 89 Moving Average afterwards. If a pullback from this line happens later on, there’ll be a chance to see the pair somewhere in the nearest support area at 1.1057 – 1.1032.

EUR/USD: bears have a good mind to move on because of the "Flag"

As we can see on the one-hour chart, there’s a flat in progress and the price is testing the “Triangle’s” upper side. Also, we’ve got a local “Pennant” pattern. Therefore, the pair is likely going to reach a resistance at 1.1188 – 1.1222 in the short term. At the same time, if bulls stop here, a downward movement in the direction of a support at 1.1032 becomes possible.

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