EUR/USD: local bearish "Thorn" pattern

EUR/USD: local bearish "Thorn" pattern


The last consolidation resulted in a massive bullish rally. Finally, the price faced resistance at 1.1365, so bears are likely going to test the nearest support at 1.1325 during the day. If a pullback from this level happens, there'll be an opportunity to have another upward price movement towards the next resistance at 1.1398.


Bulls faced resistance at 1.1365, so we've got a "Thorn" pattern. In this case, the market is likely going to achieve the closest support at 1.1340 - 1.1325 during the day. However, if we see a pullback from this area, bulls will probably try to reach resistance at 1.1365 - 1.1398.



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