Why I went Long Euro (short term)

FX:EURUSD   Euro / U.S. Dollar
142 1
Euro was dropping like a brick but starting slowing down around the 1.2375 area. It just kept making lower lows but slowly, so I dropped down to a 1min to see the price action. The chart pretty much explains my thoughts. I did not base the trade on just one aspect, but the whole picture. My target was just to pick up 15-20 pips so it worked out.
very nice :)
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