Price have been ping ponging between strong support/resistance @1.24500 & 1.23000 this past week but formed a new higher low based on daily time frame. Huge bullish engulfing candles have been forming on the way up indicating buyers in the market... not too much sellers based on the size of bearish candles & structure.
If price decides to push up and break resistance @1.24500, I'll be looking for buying opportunity ONLY if price pulls back to test said level and hold as support before continuing to the upside...
1 of 2 things can happen here on GU. We react, never predict!
"1 of 2 things can happen here on GU. We react, never predict!" even tho this may seem obvious its very good to point out as people get way too speculative in these markets leading to tons of losses. nice post.