EURCAD
Timeframe: H1
Technical Analysis: The price has formed a Trend Reverse Diamond Model at a resistance level of 61.8% Fibo retracement of the downward movement started on 09.05.2019 at a price of 1.5000.
Indicators: The price is over 50, 100 and 200 DMA that does not support sales.
DeM (14): The indicator is outside the over-sold zone and does not support the "sell" scenario.
Entry: Aggressive input from current prices, and more conservative traders can wait for correction and retest of the figure breakout or a Japanese candle signal for further confirmation of the signal.
SL: 1.5080
Alternative Scenarios: If the price passes and closes above 1.51, we will probably see a downward channel breakdown and short-term trend reversal.
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.