We recently discussed a bullish rejection candle signal here on the EURUSD which has fired up nicely and seen some good bullish price follow through.
The market is now approaching a resistance level which may prove to be a bit of an obstacle for buyers to over come. We did see the market get pretty close and react in a slightly bearish manner (note the upper tail on the last daily candle), but it’s nothing to get crazy about.
If price can re-group this session and give it another attempt, we could see a bullish breakout to finish off the week.
On the other hand if the resistance holds, well we may just have to sit through a small correction to the mean before it can move higher again.
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