EUR/AUD:
Date: 29 November, 2016
H4 Graph: Coppy/Medium Term short trend
Price might come out of the trading range that have been for a while now and most likely it might go down. It made third lower high, stopping its raise at the diagonal resistance. Now is trying to go donw again below the horizontal support at 1.41800. This might be the continuation of the short trend. Pirce remains below the 50 EMA as the cross of the 50 and the 200 EMA's is bearish.
Alternative scenario: If the price moves above the diagonal resistance and the prevous high will cance the bearish view.
Technical Indicator:
DEM (14) - In the oversold zone
Price for Entry short around: 1.41700
SL: 1.42200
Jr. Trader - S. Fuchedzhiev
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