AUD/NZD: 04.04.2017
Timeframe: H4
Mid-term uptrend currently has formed a choppy. The price is at the bottom of the range around diagonal support levels.
Price Action: pin bar and engulfing bullish bar on the diagonal support and SMA200.
Technical indicators:
SMA50/200 - in the upward formation (50 above 200).
DeM - in oversold zone below 0.3 tends to cross above 0 - a positive signal.
CCI50 - still in negative zone but is on track to pass over 0 - possible promotion.
SL: 1.0800
Alternative scenario: If the price crosses below the diagonal support then we can expect another bearish momentum.
Jr_Trader_Ivan_Ivanov
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