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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: "Flag" calling bulls to deliver new high

EUR/USD: "Flag" calling bulls to deliver new high

As we can see on the four-hour chart, a bullish movement is taking place. The price found a resistance at 1.1235, which led to the current local consolidation. So, buyers are likely going to move on, which makes possible an achievement of the nearest trend line. If we see a pullback from the trend, a downward correction becomes possible.

EUR/USD: "Flag" calling bulls to deliver new high

There’s a consolidation between the nearest resistance at 1.1235 and support at 1.1196. Also, we’ve got a “Flag”, so the pair is likely going to move up towards the closest resistance. However, bears will probably try to deliver a correction afterwards.

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