There’s a “Thorn” pattern, which helped bears to move on. Currently, the price achieved the 55 Moving Average and the uptrend line. Considering previously formed bearish patterns, it’s likely that the market is going to break these levels. If so, the main bearish target will be a support at 1.1327, which is strong enough to enter the pair into an upward correction phase.
We’ve got a new low, but overall the pair is moving in a flat. So, the price is likely going to get a support somewhere on the nearest Moving Averages. If we see a pullback from these lines, there’ll likely be even more bearish pressure on the market.
EUR/USD, H4
EUR/USD, H1
Origin: FX BAZOOKA
