GBP/NZD: Ichimoku clouds 30 January 2019, 20:09

GBP/NZD: Ichimoku clouds

30 January 2019, 20:09

Scenario
Timeframe	Weekly
Recommendation	SELL STOP
Entry Point	1.9020
Take Profit	1.8930
Stop Loss	1.9280
Key Levels	1.8610, 1.9200

Alternative scenario
Recommendation	BUY STOP
Entry Point	1.9280
Take Profit	1.9265
Stop Loss	1.9020
Key Levels	1.8610, 1.9200

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from above, current cloud is going to reverse from ascending to descending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (1.9020). The closest resistance level is the lower border of the cloud (1.9280).



On the daily 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 approaching the price chart from below, current cloud has reversed from descending to ascending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (1.8610). The closest resistance level is the lower border of the cloud (1.9200).

On the four-hour chart the instrument is trading within the cloud. On the daily chart the instrument is trading within the cloud. It is not recommended to open positions at current price. Pending orders should be placed at the cloud’s borders: sell at the level of 1.9020, with Take Profit at 1.8930 and Stop Loss at 1.9280; buy at the level of 1.9280, with Take Profit at 1.9265 and Stop Loss at 1.9020.