EUR/USD: 'Thorn' pattern
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The last bearish 'Pennant' led to the current decline. At the same time, there's an opportunity to have an upward correction in the short term. However, if we have a pullback from the nearest resistance at 1.2259 - 1.2272, there'll be a moment for another decline.
There's a 'Thorn' pattern, so the pair is likely going to test the 34 Moving Average in the coming hours. Meanwhile, if a pullback from this line happens little later on, bears will probably try to reach the next support at 1.2214 - 1.2205.