EUR/NZD: Ichimoku clouds
10 December 2018, 21:51
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 1.6517 |
| Take Profit | 1.6325 |
| Stop Loss | 1.6627 |
| Key Levels | 1.6320, 1.6440, 1.6497, 1.6566, 1.6627. |
Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. Borders of the cloud serve as the closest support (1.6496) and resistance (1.6540) levels
On the daily chart Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument has been corrected to the Tenkan-sen line. The closest support level is Tenkan-sen line (1.6494). The closest resistance level is the upper border of the cloud (1.6620).
On the both charts the instrument is still falling. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (1.6325) and Stop Loss at the level of Kijun-sen line (1.6627).
No comments:
Write comments