EUR/NZD: Ichimoku clouds
06 September 2017, 20:42| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.65618 |
| Take Profit | 1.66698 |
| Stop Loss | 1.65038 |
| Key Levels | 1.62249 1.65380 1.66698 1.66627 |
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 ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (1.65380). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.66698).
On the daily chart Tenkan-sen line is above Kijun-sen, the blue line is directed upwards, while the red one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (1.62249). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.66627).
It is recommended to open long positions at current price with the target at the level of previous maximum of Chikou Span line (1.66698) and Stop Loss at the upper border of the cloud (1.65038).
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