EUR / GBP
Time frame: H4
Technical analysis: Clearly declining trend which started on 03.01.19. After the pair made a bottom at the price of 0.8620, it entered a short ascending trend. On 07.0219 the upward trend was broken, but the pair failed to continue to fall but instead the price managed to reach the upper diagonal resistance and retest the short-lived upward channel.
Indicators: The price is below 200 EMA, and it plays a role of resistance.
DeM - In neutral territory and does not give signals for the moment
Aggressive Entry into a Deal: Sell from current levels.
Conservative entry into a deal: After a second retest of diagonal resistance launched on 03.01.19 we can enter the market with "sell" positions.
Alternative Scenario: Breakthrough of diagonal resistance would lead to a test 0.8860 level test
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.