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CAD/CHF: Ichimoku indicators analysis

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CAD/CHF: Ichimoku indicators analysis
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point0.6302
Take Profit0.6402
Stop Loss0.6274
Key Levels0.6202, 0.6352, 0.6252, 0.6402
CAD/CHF: Ichimoku indicators analysis

Let's look at the four-hour chart. Tenkan-sen and Kijun-sen lines have merged, both lines are directed downwards. Confirmative line Chikou Span is crossing the price chart from above, 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 (0.6202). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.6352).


CAD/CHF: Ichimoku indicators analysis

On the daily 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 has reversed from descending to ascending. The instrument has broken through the cloud and is still rising. One of the previous minimums of Chikou Span line is expected to be a support level (0.6252). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.6402).


On the four-hour chart we can see the beginning of the trend reversal. On the daily chart we can see the beginning of the trend reversal. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (0.6402) line and Stop Loss at the level of Kijun-sen line (0.6274).


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