EUR/USD: "Thorn" pattern

EUR/USD: "Thorn" pattern


The 34 Moving Average has acted as resistance, so there's a "Thorn" pattern. In this case, we could have a decline towards the nearest support area at 1.1634 - 1.1615. If a pullback from this area happens, bulls will probably try to reach another resistance at 1.1668 - 1.1695.


We've got a "Thorn" pattern, so the market is consolidating. It's likely that the pair is going to achieve the next support at 1.1615 in the coming hours. However, if a pullback from this level happens little later on, there'll be an opportunity to have an upward price movement towards the closest resistance at 1.1689 - 1.1695.




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…

USD/JPY: bullish "Doji"

We’ve got a pullback from the lower “Window”, so there’s a bullish “Doji”, which has been confirmed .


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