AUD/CHF:
Date: 22, September, 2016
4H chart: Long-term choppy, Mid-term short trend
Price went up and stopped at the long diagonal resistance and Fibo 61,8%. Trend is short. 50MA is below 200 MA. The horizontal resistance is at 0.74230. Short entry below that horizontal resistance in case is doesn't break trough upwards.
Price Action: Doji formation at resistance levels - signalfor short
Alternative scenario: If the price breaks upwards above the diagonal resistance and Fibo 61,8%, this will break the bearish scenario:
Technical indicators
Dem(14) - In overbought area and turning for short. Bearish divergence of the indicator and the short price.
Price entry at : 0,74300
SL: 0.74650
Jr. Trader - S. Fuchedzhiev
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