AUDCHF D1 | Our expectations:
A downtrend and adjustment of the last downward movement, ending with Head & Shoulders formation, as a breakout below the neckline allows us to enter short with SL 0.7250.
SMA50 and SMA200 in a bearish formation, with the current price testing the latest break below 50 SMA - signal for a likely new downward movement.
The price has returned again below 61.8 Fibonacci - a negative signal.
DeM Sequential begins a downward counting with the potential to reach 9.
DeM (14) remains between 0.3 and 0.7 - does not give a clear signal for now.
Alternative Scenario: Returning the price back to the formation will break the negative scenario.
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