AUD/USD:
Дата: October 19, 2016
H4 Chart: Medium-term short
Price tendency is short after the formation of 4th higher peak. It is possible to form a double top at a lower time frame. The horizontal resistance at 0,76900 is holding and the price remains below it. 50MA is still below 200MA.
Alternative scenario: If the price breaks trough upwards above the diagonal and horizontal resistance this will break the bearish scenario:
Technical indicators:
DEM (14): In overbought area but still has not turned for short
Price entry at around: 0,76770
SL: 0.77300
Jr. Trader - S.Fuchedzhiev
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.