EUR/USD: "Thorn" points to possible a new low
There's a flat near the recently broken “Flag” pattern, so the price is likely going to decline towards a support at 1.1001 – 1.0970 in the short term. If a pullback from this area happens afterwards, bulls will probably try to achieve the nearest resistance at 1.1103 – 1.1145.
As we can see on the one-hour chart, we’ve got a downward flat in progress. Therefore, we should keep an eye on the important support at 1.0995 – 1.0970 as a possible bearish target. However, if sellers be stopped here, there’ll be an opportunity to see an upward correction in the direction of the 89 Moving Average.