Hello fellow traders, I wish you all a very happy and prosperous new year. May this year be profitable for everyone.

Today I have pulled up my EURUSD chart for you which doesn't look in a good shape for trading. A lot of selling pressure and despite of a 270 pips rally in last three days the pair failed to close above the crucial resistance of 1.0550. Now the downside is 1.0375.



If it breaks that level and closes a daily candle below then I am not sure till what level it can go. As a technical analyst uses price history to tell future probabilities and there is no history of this pair below this level.
Happy Trading to all.
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