EUR/USD: Down trend, medium term choppy and short-term rise
Fibonacci correction to 28.2% at the last sudden downward movement - resistance
Price at diagonal resistance and horizontal support 1.1111
RSI went below 70, turning from e overbought market which is a negative signal. The bar hasn't closed yet. A conformation for entry will be when DeM goes below 0.7 or if the price makes a correction due to the small stop loss and the low risk
Fed postponed the rise of interest rates, but fundamental analysis indicates that they will act soon. The monetary policy of ECB is still expansionist but Fed's tightens - stronger dollar.
SL: 1.1171
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.