NZD/USD:
Date: July 18, 2016
H4 Graph: Long Trend
The price made a correction downward to horizontal support at a zone 0,70800/0,70600, this is also a FIB zone 38,2% and stopped at МА200. The price stopped its fall and it is possible that will continue up by the trend.
Earlier there was a bearish divergence of the DEM indicator, which did happen but now the price may be ready to resume its movement up by the trend.
Alternative scenario: If the price continue to fall and breaks below 0,70550 and closed below the МА200, will give us a sell signal for possible short positions.
Technical Indicator:
DEM (14) - In oversold zone and turned up - by the trend for long
Sentiment: The indices and stocks continue to move up with the positive sentiment that exist in the market. This will support higher NZD dollar
Price for Entry long around: 0,7100
SL:0.70550
Jr. 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.