EUR/AUD:
Date: 14 November, 2016
H4 Graph: Short Trend
The price fell even after the big move during the Presidential vote in the USA after reaching a high of 1.14880. The Trend continues to remain short for now and this correction to Fib 38,2% and diagonal support is a good place for a short. Price remains below both 50 and 200 ЕМА's.
Price Action: Doji bar at level of resistance - Possible signal for short
Alternative Scenario: If the price moves up above the previous high of 1,44300 and the diagonal resistance, this will cancel the bearish view.
Technical Indicator:
DEM (14) - Closer to the overbought zone
Price for Entry short around: 1.43800
SL: 1.44500
Jr. Trader - S. Fuchedzhiev
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