AUD/NZD:
Date: April 7, 2016
H4 Graph: D1 Trend is long, however there is broken horizontal support, now resistance at 1,1500. Sell on retest
Price Action: Well formed downward channel and impulse for short on Fib 38.2 correction, below the horizontal resistance now, and close to the diagonal resistance line.
Alternate scenario: If the price moves above the FIB 50% and over 1.11800 this will cancel the bearish view
Technical Indicators:
DEM (14) H4: turned down for short
Entry price for short around: 1,113
SL:1.118
Jr. Trader - S. Fuchedzhiev
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