EUR/GBP:
Date: 21 November, 2016
D1 Graph: Long Trend
The price made a correction and stopped at diagonal support and horizontal support at 0.85600. Price remains above 200 EMA and in between Fib levels of 38.2% and 50%.
Price Action: Pin bar at horizontal and diagonal supports - possible signal for long
Alternative scenario: If the price starts going lower again and breaks below the previous low of 0.85300 and below the diagonal support, this will cancel the scenario.
Technical Indicator:
DEM (14) - close to the oversold zone
Price for Entry long around: 0.8600
SL: 0.85200
Jr. Trader - S. Fuchedzhiev
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