Euro appears to display a failed break on the daily chart. Despite intraday action breaking down the 61.8% retracement of the October rally, the daily candles print a long tail with a close above this support level. This appears to indicate that the support is solid. There may be a re-test to vindicate the support.
Points to note of $1.4700:
- 61.8% of October rally
- Daily candles close above this level over 5 days
- 4-hour charts show bear trap
Daily candles vindicate support
