The extensive bearish run on the pair could now be set for some pull back following the formation of an outside bar/bullish 2 bar reversal price action setup at the close of today's trading. While the trend remains bearish, there is room for price rotation into resistance region at about 1.2550 if it manages to break above 1.2385.
Join me in the Trade Room to see if and how I intend to trade this setup
My recommendation: Trade the bullish pullback or wait till price hits resistance to rejoin the major bearish trend.
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