GBP/AUD 30.11.2016 D1 chart.
Long term downtrend and correction to 23,6 Fibonacci.
Break brelow diagonal and horizontal supports (current resistances) and test of the break.
Last bar makes lower low and closes below the high of the previous bearish bar- negative signal.
SMA50 below SMA200 - negative signal
DeM(14) reverses above 0,7 and breaks below - negative signal
We can wait a correction aroung1,6750 to minimize risk.
Alternative scenario: If price breaks above the resistances this will negate the negative scenario.
Jr. Trader Nikolay Georgiev
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.