EUR/USD 20.09.2016 H4 chart:
Long term downtrend and mid term consolidation.
Short term movement is more likely to stay short.
Price below diagonal and horizontal resistances.
Price action: pin bar at levels of resistance for probable downward impulse
Technical indicators:
Price below dynamic moving averages EMA 5,13,25, ordered in bearish formation - negative signal
CCI(50) - below -100 and RSI(14) - below 50 - negative territory for probable downward impulse
Entry: after correction to 1.1180 to minimize risk or now
SL: 1.1210
Alternative scenario: If price breaks above the upper shadow of the pin bar this will cancel the negative scenario.
Jr. Trader Nikolay Georgiev
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