EUR/USD 01.10.2016 D1 chart.
Long term downtrend, mide term choppy, short term downward movement and correction.
Price is testing a break below diagonal support, which is current resistance and below 50% Fibonacci of the last upward movement.
Price is below zone of horizontal resistance.
SMA50 crossed SMA200 – death crossing – probable downward impulse
Pin bar on H1 chart and bearish engulfing bar aftwrward for probable downward movement.
Alternative scenario: If price breaks and stays above the zone of hroizontal resistance this will cancel the negative scenario.
Jr. Trader Nikolay Georgiev