GBP/NZD
Time frame: H4
Technical Analysis: The chart shows that the price is in a up trend. Right now we can see that the price is attacking a strong trend line for the fifth time in a row, failing to break it. By doing so, the pair forms a "Multiple High" formation, and sales from here would be more likely.
Indicators: The price is over 50 and 200 EMA, and for the moment they play a role of support.
DeM- Overbought values that support the "Sell" scenario.
Entry into Deal: From current levels
SL: 1.9470
Alternative scenario: If the price can break through and stay above the current resistance (the red trend line) then it will continue to rise.
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.