EUR/NZD:
Date: 14 November, 2016
H4 Graph: Medium term short trend
The price made a correction upward, but the price stopped raising exactly on a horizontal resistance at 1,52200 and just below the diagonal resistance. Fibo level 38,2% also coincides in the same zone. Price continue to remain below the 200 ЕМА, which is a dynamic resistance.
Price Action: Doji bar at levels of horizontal and diagonal resistance - Possible short signal.
Alternative scenario: If the price moves up and passes above the diagonal resistance, this will cance the bearish scenario.
Technical Indicator:
DEM (14) - It just entering the overbought zone
Price for Entry short around: 1,5220
SL: 1.53300
Jr. Trader - S. Fuchedzhiev
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