AUD/CAD D1 Our expectations:
Medium-term short trend and short-term long correction. The price has reached a zone of serious resistance and fails to make a new high, forming a double top for decrease. Current levels give a good opportunity for new short positions with the trend and a good risk/reward ratio
Price action: Double top, but formation is not yet activated.
Test of 50% Fibonacci the price holds below.
Price above 50SMA and test of 200SMA.
DeMarker on neutral territory.
SL: 0.695 (intentionally retrieved to prevent stop hunting).
Alternative scenario: Verified break above 0.96, means a new high and a new short-term long trend.
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.
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.