Resistance: 1.2119 minor/1.2174 minor/1.2214 moderate
Support: well below forecasted values
Overall trend in EURUSD is bearish though Hourly charts appear to be overextend. With a mid level reversal pattern, Bullish Engulfing we risk a technical correction though this is likely to be limited to 1.2119. The prudent course of action is to remain sidelined.
Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices