EUR/USD: "Thorn" pattern

EUR/USD: "Thorn" pattern


There's a "Thorn" pattern, so the price is consolidating. The main intraday target is the nearest support at 1.1729 - 1.1719. If we have a pullback from this area, there'll be an opportunity to have an upward price movement towards the nearest resistance at 1.1793 - 1.1822.


Bears faced with support at 1.1757, but there's also resistance by the 34 Moving Average. If a pullback from this line happens, the market is likely going to test the next support at 1.1724 - 1.1719. This area could be a departure point for another bullish price movement towards a resistance at 1.1780 - 1.1793.



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