AUD/USD:
Date: June 1, 2016
H4 Graph: Short Trend
The Price has made a correction to horizontal resistance at levels of 0,72600 it holds below it.
Price Action: Hammer formation for short - signal for short
Alternative Scenario: If the price moves up above 0.7300 and Fib 23,6% will cancel the bearish view.
Technical Indicators:
DEM (14) H4 - Its still not in overbought zone
RSI (14) H4 - above 50 - Stronger signal for short can be waited by passing of the indicator below 50
Price for Short around: 0,72400
SL: 0.73000
Jr. Trader - S. Fuchedzhiev
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.