USD/BGN
Time frame: D1
Our expectations: For a long time, we have seen an exceptionally strong upward trend for USD/BGN currency pair. On 26.04.19 the price managed to record a new annual peak, then quickly returned again under the strong resistance zone at 1.7480. Since the price is below that area, short-term dollar sales would be more likely. The probable sales stop can be at 1.7130, which is the same as 200 EMA, which plays a role in strong price support.
DeM (14) kept below 0.7, which is an additional signal that sales would continue.
In an alternative scenario, if the price rises and rebounds over zone 1.7480, the forecast will not be valid and we will wait for a new peak from where the sales will again prevail.
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