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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 ready going even deeper, but after a while

EUR/USD: bears ready going even deeper, but after a while

The price has reached a support at 1.1032, which led to the current consolidation under the nearest resistance at 1.1097. Therefore, the market is likely going to achieve the next resistance at 1.1130 – 1.1168 in the short term. However, if a pullback from this area happens afterwards, bears will probably try to go on and catch a support at 1.1021 – 1.0970.

EUR/USD: bears ready going even deeper, but after a while

As we can see on the one-hour chart, the price has stopped near the lower side of the current “Support Zone” at 1.1032, which led to form a “Double Bottom” pattern. So, we’ve got a local flat under the 55 Moving Average. It’s likely that bulls are going to get a resistance somewhere between the levels 1.1130 – 1.1145 during the day. Considering a possible pullback from this area, the next stage of the massive bearish rally will be on the table very soon.  

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