EUR/AUD:
Date: 27 October, 2016
H4 Graph: Short Trend
The price made a flag for a short move with the trend and broke below and continued down. Now the price came back for a possible retest of the break of the diagonal support, now resistance. Here there is a second diagonal resistance and horizontal resistance. Also Fibo level of 23,6%. The price continue to make lower lows.
Alternative Scenario: If the price break up again above the both diagonal resistances, this will cancel the bearish view.
Technical Indicator
DEM (14) - Turned down
Price for Entry short around: 1.42750
SL: 1.43350
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