EUR/AUD 19.06.2017
Our expectations: The price reached diagonal support and SMA 50. Unsuccessful break of the support and possible rebound in upward direction.
Alternative scenario: If the price breaks below FiBo 38.2 and the diagonal supports, the positive scenario will be dismissed and we can look for a short position with SL around 1.4625.
Comments: Middle-term uptrend, short-term correction to levels of diagonal support and SMA 50.The price is below SMA 50 and 200. Technical indicator: DeM(14) - Turned up in zone of oversold - positive signal, when break level 0.3 the positive scenario will be confirmed. Price action signal: Pin bar at levels of diagonal support and SMA 50.
SL: 1.4585
Trader Bozhidar Arabadzhiev
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