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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: two "V-Bottoms" in a row points to possible new high

EUR/USD: two "V-Bottoms" in a row points to possible new high

The price is consolidating under the previously broken “Triangle”. Also, we’ve got two local “V-Bottoms” in a row. So, the market is likely going to achieve the 34 Moving Average. If a pullback from this line happens, there’ll be an opportunity to see a decline towards a support at 1.1001 – 1.0970.

EUR/USD: two "V-Bottoms" in a row points to possible new high

We’ve got a local flat between the 89 Moving Average and the nearest support at 1.0980. Therefore, the pair is likely going rise in the direction of a resistance at 1.1057 – 1.1074. However, if a pullback from this area arrives later on, bears will probably try to catch a support at 1.0970.

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