EUR/AUD: ICHIMOKU INDICATORS ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 1.6575 |
| Take Profit | 1.6036 |
| Stop Loss | 1.6716 |
| Key Levels | 1.6571, 1.6650, 1.6324, 1.6855 |
Let's look at the four-hour 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 has been corrected to the Tenkan-sen line. Tenkan-sen and Kijun-sen lines have become support (1.6571) and resistance (1.6650) levels respectively
On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has broken down Tenkan-sen and Kijun-sen lines. One of the previous minimums of Chikou Span line is expected to be a support level (1.6324). The closest resistance level is Tenkan-sen line (1.6855).
On the four-hour chart we can see a correction of the upward movement. On the daily chart the instrument has broken down the cloud, forming a strong signal to sell. It is recommended to open short positions at current price with the target at the level of previous minimum of Chikou Span line (1.6036) and Stop Loss at the lower border of the cloud (1.6716).
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