On a 4-hour chart EUR/USD has formed a bullish combination of candlesticks - “Morning Doji Star”. This combination was formed after the pair had made a strong downfall to 1.2203. The combination indicates that earlier the pair was not able to break the resistance level 1.2669, after which there followed a sequent decline to a multi-year low where the bears could not strengthen giving their way to the bulls.
If the upmove proceeds, and the pair breaks the resistance level around 1,2450 it is expected that the currency pair will be able to reach the mark of 1.2669, where there also is a resistance level.
Though, if EUR/USD gets through the support level of 1.2203, long positions should be closed as it will denote that this attitude is not correct.
