Learn how to become a successful foreign exchange trader.
News now running the show in the Forex market. The British continue to discuss Brexit, and England continued to shake because of contradictions. British pound in the Forex market has become dramatically lose its positions. Yesterday the price fell heavily down against the Australian dollar. Price stopped at the level of 1.63. And judging by the exchange schedule is going to continue falling further down. We target at a distance of 100 points from the point of entry, taking into account the overall price movement. If the Pound will continue to depreciate further, then we will open a short position at a penetration level of 1.63.
The price is below a simple moving average 200 MA and 20 MA indicating bearish trend.
The MACD trend indicator is below zero level now, indicating bearish movement.
If the support level is broken you can use the following recommendation:
• Chart timeframe: H4
• The trade recommendation: Sell
• The level of entry into short position: 1.6300
• The level of profit and close the position: 1.6200 (100 pips)
Forex currency pair EURUSD
Possible bullish movement in the breakout of the resistance level 1.0730
Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 112.50
Possible bullish movement in the breakout of the resistance level 1225
Forex currency pair USDCHF
Possible bearish movement in the breakdown of the support level 0.9930
Crypto Bonus of up to 25% when depositing funds by cryptocurrency. You can get from 5 up to 30,000 USD for trading.