EUR/NZD: Ichimoku indicators analysis
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY |
| Entry Point | 1.7961 |
| Take Profit | 1.8082 |
| Stop Loss | 1.7860 |
| Key Levels | 1.7884, 1.8066, 1.7881, 1.8054 |
Let's look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from below, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument has entered the cloud. The closest support level is Tenkan-sen line (1.7884). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.8066).
On the daily chart Tenkan-sen line has crossed Kijun-sen from above, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from above, current cloud is ascending. The instrument has entered the cloud. Borders of the cloud serve as the closest support (1.7881) and resistance (1.8054) levels
It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (1.8082) line and Stop Loss at the level of Kijun-sen line (1.7860).
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