EUR/USD: bullish "Thorn" pattern

EUR/USD: bullish "Thorn" pattern

23-2-2018-EUR-H4.png

The price is consolidating near the 55 Moving Average. The main intraday target is the nearest resistance at 1.2384. If a pullback from this level arrives little later on, there'll be a moment for another decline.

23-2-2018-EUR-H1.png

All the Moving Averages have been broken, but there's a bullish "Thorn" pattern. Therefore, the pair is likely going to test the 89 Moving Average, which could be a departure point for a downward price movement.

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