GBP/NZD:
Date: 10 February, 2017
H4 Graph: Short Trend
Price is making a correction and again the rise of the price stopped just below a diagonal resistance and horizontal resistance around the zone of 1.74800/1.7500. Fibo 50% and 61.8% is also found in the same area. The 50 ЕМА is below the 200 ЕМА and the trend is short. This is the 3rd time of test and try to break up.
Price Action: Pin bar at a level of strong diagonal and horizontal resistance - possible signal for short.
DEM - In the overbought zone and turned down for short
Price for Entry short around: 1.74100
SL: 1.74850
Trader - S. Fuchedzhiev
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.