AUD/USD:
Date: 19 January, 2017
H4 Graph: Medium term long trend
After finding a bottom, the price started moving higher and broke above horizontal resistance at 0.75250. Now possibly the price is making a retest of the break and its a good place for longs, close to the horizontal support and diagonal support, inside the bullish price channel.
Price Action: Break of horizontal resistance and retest - Possible signal for Long
DEM - Below the overbought zone
Alternative scenario: If the price breaks below 0.75250 and the horizontal support and diagonal support, this will cancel the bullish view.
Price for Entry long around: 0.75350
SL: 0.74800
Trader - S. Fuchedzhiev
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