Market reached today a new low and strong support at 1.2050 area. We can expect buyers entering from this level and this will move the price up to 1.20400 area. RSI is showing bullish divergence which support the current up movement.
A short term box pattern has been formed and we wait for a break out or break down to to take action on the price movement.
Entry prices, stop loss and take profits are drawn in the chart.
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