EUR/USD: "Thorn" points to a possible bullish movement
The price has found a support at 1.1167, which led to form a “Thorn” pattern. Therefore, the market is likely going to get a resistance at 1.1217 – 1.1271. If we see a pullback from these levels, bears will probably try to reach a support at 1.1145.
There’s a local flat in progress between a resistance at 1.1230 and a support at 1.1167. We’ve got a “Pennant”, which points to a possible bullish movement towards a resistance at 1.1245. So, if this level stops the coming correction, there’ll be a chance to see a new low soon.