EUR/USD: "Thorn" pattern

EUR/USD: "Thorn" pattern

3-8-2017-EUR-H4.png

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.

3-8-2017-EUR-H1.png

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.

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