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I've been trading for 15 years, so I have a lot of things to share. I use the classic technical analysis, which is one of the most powerful tool for any trader.

EUR/USD: "Thorn" led to bearish correction

EUR/USD: "Thorn" led to bearish correction

The price has broken the downward trend, but a “Thorn” arrived afterwards, so we’ve got a local correction in progress. Therefore, the market is likely going to get a support at 1.1235 – 1.1222 in the short term. Nevertheless, bulls will probably try to catch a resistance at 1.1349 later on.

EUR/USD: "Thorn" led to bearish correction

There’s a consolidation above the broken trend. So, bears are likely going to reach a support at 1.1235 -1.1222 during the day. However, if a pullback from this area happens, there’ll be an opportunity to have another bullish movement towards a resistance at 1.1324.

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