EUR/USD 12.06.2017
Our expectations: An upcoming probable consolidation between 1.1161 and 1.1078, as in this zone long positions will be more logical with stop at 1,1050.
Alternative scenario: A breakout below 1,1078 will activate the Double Top formation and this might lead to a deeper correction and short term sell positions will be more rational.
Comments: Short term uptrend and fundamental expectation for the euro to strengthen further against the dollar.
Price above diagonal and horizontal supports
SMA50 above SMA200 and price above them - a positive signal.
DeM(14) points downwards, which increases the probability that we can take a better price for long positions.
Fibonacci levels of the last upward impulse 38,2 and 50,0 will be proper for long entries.
Trader Nikolay Georgiev
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.