The market is going to test the closest support at 1.4069 - 1.4027. If a pullback from these area happens little later on...
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.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.