AUD/JPY:
Our expectations: Breakthrough of up-trend that gives us a chance for new short positions.
Alternative Scenario: Passing the price back over the diagonal resistance (Former support) could form a false breakthrough and the upward trend is likely to continue
Comment: Breakthrough of up-trend
Price below diagonal support
50/200SMA: The price closes below 200MA - a negative signal
Price action: Engulfing bar - probably a drop
DeM: Goes into over sales area - downward impulses are possible
CCI: below 0, passing below -100 will confirm the short
SL: 83,450
Trader I. Ivanov
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.