GBP/NZD: Ichimoku clouds
07 February 2019, 20:21
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.9200 |
| Take Profit | 1.9310 |
| Stop Loss | 1.9010 |
| Key Levels | 1.9125, 1.9280 |
Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has broken through the cloud and is still rising. The closest support level is the upper border of the cloud (1.9125). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9280).
On the daily chart Tenkan-sen line is above Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has broken through the cloud and is still rising. The closest support level is the upper border of the cloud (1.9010). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9310).
It is recommended to open long positions at current price with the target at the level of previous maximum of Chikou Span line (1.9310) and Stop Loss at the upper border of the cloud (1.9010).
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