EUR/CAD:
Our expectations: The pair reached diagonal and horizontal resistances where there is a price action signal for a possible decrease: Dark Cloud Cover, possible short with stop at 1.5040
Alternative Scenario: Price passing above the top of 1.5153 will show that the long is more likely.
Comments: Long-term consolidation - choppy trading and mid-term upward movement.
The price has reached levels of horizontal and diagonal resistance.
Price action signal for a possible decrease: Dark Cloud Cover
Short-term correction of the drop, which gives me better levels for a short position.
DeM turned down into the overbought zone, indicating a possible decrease.
Stefan D. Angelov - Head of Stocks Trading
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.