NZD/USD:
Date: April 25, 2016
4H Graph: Long Trend
The price made a correction down to the Trend line, close to the FIB 38,2%, but the price holds above the horizontal support, diagonal support and above the FIB 38.2. The price continue to make higher highs and higher lows.
Alternate scenario: If the price breaks down below 0,68100 and below the diagonal and horizontal supports will cancel the bearish view.
Technical Indicators:
DEM (14) H4 - is in the overbought zone and turning for long
RSI(14) H4 - has reached level 30 and turns up for long
Price for Entry long around: 0,68600
SL: 0.68100 - Below the previous low
Jr. Trader - S. Fuchedzhiev
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