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As discussed in yesterday’s market commentary, the engulfing bar + pin bar combo did produce higher prices for the Euro, and went to the first resistance level I mentioned yesterday (around the 1.2763 area). However, the pair got rejected and formed a large pin bar at resistance and a role reversal level. Now the lines are drawn short term, as the bulls will have to clear 1.2772, while the bears have support at 1.2659, so those are your levels for either side of the market to get long or short, and watch for price action signals there.
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