AUD/CAD: Ichimoku clouds
14 September 2017, 07:04| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL |
| Entry Point | 0.9732 |
| Take Profit | 0.9705 |
| Stop Loss | 0.9747 |
| Key Levels | 0.9700, 0.9710, 0.9725, 0.9740, 0.9750, 0.9755. |
Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is approaching the price chart from below, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (0.9710). The closest resistance level is Tenkan-sen line (0.9741).
On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (0.9703). The closest resistance level is Tenkan-sen line (0.9796).
It is recommended to open short positions at current price with the target at the level of previous minimum of Chikou Span line (0.9705) and Stop Loss at the lower border of the cloud (0.9747).
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