EUR / GBP
Date: 28/03/2017
Daily graphics- Long-term uptrend, middle term consolidation.
The price is above SMA50, as it tested it and was repulsed back up - positive signal.
50SMA above 200SMA - positive formation.
Price action: bullish engulfing. Currently, the price is making a correction, which allows us to place shorter SL.
Technical indicators:
CCI (50) - over 0 - a positive signal
CCI (14) - goes up from over sold market - a positive signal.
Alternative scenario: If the price fails to successfully break the diagonal resistance level and Fib23.6 level, the bullish scenario would be broken.
Jr_trader - S.Panteleev
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.