The EURUSD daily chart has produced two bullish candles that both have long tails rejecting lower prices which may be suggesting a move higher could be about to occur. This would be a good thing for Price Action traders who are looking to get into the down move from a pull-back higher.
The logical area for traders to get short should this market move higher is around 1.2435. This area represents old support which we would look to hold as new resistance. Price Action at this area could signal a resumption of the down trend.
Stay tuned…
EURUSD DAILY CHART
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