EUR/USD: "Thorn" pattern

EUR/USD: "Thorn" pattern


The last "Flag" pattern led to another bullish rally, so the price faces resistance at 1.1923. Also, there's a "Thorn" pattern, which means the market is likely going to reach the nearest support at 1.1801. If a pullback from this level happens, we could have another upward price movement towards the next resistance at 1.1875 - 1.1923.


There's a "Thorn" pattern, so the price achieved support at 1.1846. In this case, we could have a local bullish price movement towards the closest resistance at 1.1876. If a pullback from this level arrives afterwards, bears are likely going to test the nearest support at 1.1818 - 1.1801.



USD/CAD: bullish above 1.24

USD/CAD is finding dynamic resistance in the 200 SMA at H1 chart and it’s currently trading inside a decisive stage…


Morning brief for May 30

 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…

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