Time frame: H4
Technical Analysis: The chart shows that the price has started a new bearish trend on 14.02.19. For now, the price has found short-term support at 0.9980. At the same time, the price has formed a head and shoulder formation and if the price breaks the formed bottom of 0.9980 it will be activated. The price is currently below Fibonacci 23.6%, which is an additional indication that the price will continue its downward movement.
Indicators: The price is below 50 EMA, with the moving average playing a strong resistance for the moment.
The 200 EMA is below the price and plays a role of support.
DeM - In neutral territory and does not give signals.
Aggressive Entry in Deal: Sell from current levels with stop at 1.0030
Conservative Entry in Deal: Sell only after a break of 0.9980 and 200 EMA period.
Alternative scenario: If the price breaks 23.6% of Fibonacci and level 1.0020, the price will continue to rise until the next strong resistance at 1.0050
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.