EUR/USD 11.08.2016
H4 chart.
Long term downtrend and mid term choppy.
Price reaches levels of resistance - horizontal at 1,1188 and diagonal.
Price action: Small pin bar followed by a bearish engulfing one for probable decrease
Technical indicators:
DeM(14) - reverses downward in overbought zone - sell
SL: 1.1240
Alternative scenario: If price goes above the horizontal resistance, this will make a new upward impulse more likely.
Jr. Trader Nikolay Georgiev
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