AUD/NZD:
Date: June 16, 2016
H4 Graph: Short Trend
After the short move down and break of he important horizontal support on level of 1,05260/1,05500 and FIB 38.2, the price made a correction for a retest and formed a bearish flag. Now the price breaks the bearish flag to continue down by the trend.
Price Action: Two equal pins on level of 1,055 formation for reversing of th move
Alternative scenario: If the price moves up above the previous high and above 1.055 will cancel the bearish view.
Technical Indicator:
DEM (14) - Reached overbought zone and turned down for short
Price Entry for short around: 1,0500
SL: 1.0555
Jr. Trader - S. Fuchedzhiev
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