EUR/NZD
Date 23 January 2017.
Time frame : H4
Short-term downrend.
Technical indicators :
50 EMA under 200 EMA - Negative signal
DEM : Points down - Negative signal
Price action - Pin bar on a horizontal resistance level. - Negative signal
The price has made an unsuccessful try to break above the horizontal resistance level and is now testing and is under the horizontal level of support.
Alternative scenario : If the price goes back above the horizontal level of support and break above the horizontal level of resistance the negative scenario will be negated.
Jr_trader - S.Panteleev
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