AUD/CAD: Ichimoku indicators analysis
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.9156 |
| Take Profit | 0.9094 |
| Stop Loss | 0.9189 |
| Key Levels | 0.9156, 0.9189, 0.9114, 0.9246 |
Let's look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from below, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from below, current cloud is descending. The instrument has entered the cloud. Borders of the cloud serve as the closest support (0.9156) and resistance (0.9189) levels
On the daily chart Tenkan-sen line has crossed Kijun-sen from above, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument has entered the cloud. Borders of the cloud serve as the closest support (0.9114) and resistance (0.9246) levels
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 0.9156, with Take Profit at 0.9094 and Stop Loss at 0.9189; buy at the level of 0.9189, with Take Profit at 0.9256 and Stop Loss at 0.9156.
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