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EURUSD
Price has bounced down from 38.2 Resistance on Daily chart, however I still have a bullish bias.
Why situation is not clear? Price moved down from 1.27 extension at 1.40 and stopped at 38.2 (1.35) Weekly chart. This in itself is a bullish sign, we need to assess whether this is a bounce from the Fib level or a reversal, we had a hammer pattern on the same time frame.
On the other hand the Daily chart presents same scenario but inverted, price came up from extension and now stopped at 38.2…
Price has bounced down from 38.2 Resistance on Daily chart, however I still have a bullish bias.
Why situation is not clear? Price moved down from 1.27 extension at 1.40 and stopped at 38.2 (1.35) Weekly chart. This in itself is a bullish sign, we need to assess whether this is a bounce from the Fib level or a reversal, we had a hammer pattern on the same time frame.
On the other hand the Daily chart presents same scenario but inverted, price came up from extension and now stopped at 38.2…