EUR/USD: bullish 'Thorn' pattern

EUR/USD: bullish 'Thorn' pattern


There's a bullish 'Thorn' pattern, so the price is consolidating. It's likely that the market is going to test the next resistance at 1.1790 - 1.1820. A pullback from this area could be a departure point for a decline towards the 89 Moving Average.


The last 'Thorn' led to the current upward price movement. Also, we've got a bullish 'Pennant', so the pair is likely going to achieve another resistance at 1.1790. If a pullback from this level happens next, there'll be time for a bearish correction.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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