Trend is bearish in 1 hour chart. Intraday resistance is present at 1.2305 price level. As long as price prints; lower highs and lower lows, I would be probably looking for sell trades. Since yesterday, the currency pair has printed a strong bearish leg. This looks like a start of a new down trend. If bullish candlestick closes above 1.2305 critical resistance level then down trend is going to end. In this case, I would prefer to stay out of the market and re-analyze the price action.
