EUR/TRY: 17.02.2017
Timeframe: H4
Breakthrough a major diagonal on an uptrend movement. Middle term downtrend with a short term correction to 23.6% Fibo, SMA50, as well as diagonal resistance.
Price action: Bullish bar, followed by a couple of inside bars - reversal pattern.
Technical indicators:
SMA50/200 - 50 under 200 and price below 50 with unsuccessful attempts to break - negative signal.
DeMarker - turns down above 0.7 - signal for lowering.
CCI 50 - under 0 - negative sentiment
SL: 3.945
Alternative scenario: if price break above SMA50 then we can expect a new short term uptrend movement.
Jr_Trader_Ivan_Ivanov
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