EUR/NZD: ICHIMOKU INDICATORS ANALYSIS

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EUR/NZD: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeIntraday
RecommendationSELL
Entry Point1.76645
Take Profit1.76150
Stop Loss1.77000
Key Levels1.75500, 1.76150, 1.77000, 1.77550
EUR/NZD: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour chart. Tenkan-sen line is crossing Kijun-sen from above, the lines are horizontal . Confirmative line Chikou Span is approaching the price chart from above, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. The closest support level is Tenkan-sen line (1.77000). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.76150).


EUR/NZD: ICHIMOKU INDICATORS ANALYSIS

On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. The closest support level is Tenkan-sen line (1.77550). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.75500).


On the both charts the instrument is still falling. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (1.76150) and Stop Loss at the level of Kijun-sen line (1.77000).

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