NZD/JPY:
Дата: 9 January, 2016
H4 Graph: Long Trend
The price started to make a correction after it reached the high of 83.700, and now after consolidation it is possible to see a move up by the trend. Higher highs and Higher lows and diagonal support. There is a horizontal support which held the price at 80.945 and FIB level 38.2% which was tested as well. Price remain above 50 и 200 ЕМА. Price also broken above the most recent diagonal resistance and it is possible to continue going up.
Price Action: Higher Highs and Higher lows at diagonal and horizontal supports - Possible signal for long
DEM - Turned up from the bottom and is pointing higher
Alternative scenario: If the price move again lower and passes below the previous bottom and below the horizontal support, this will cancel the bullish view.
Price for Entry Long around: 81.500
SL: 80.900
Jr. Trader - S. Fuchedzhiev
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