EUR/CAD: ICHIMOKU INDICATORS ANALYSIS

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EUR/CAD: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeIntraday
RecommendationBUY
Entry Point1.44485
Take Profit1.45699
Stop Loss1.44105
Key Levels1.42639, 1.44105, 1.45075, 1.45699
EUR/CAD: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is approaching the price chart from above, current cloud is descending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is the upper border of the cloud (1.44105). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.45699).


EUR/CAD: 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 descending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is the lower border of the cloud (1.45075). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.42639).


On the four-hour chart the instrument is still rising. On the daily chart the Bearish trend is still strong. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (1.45699) line and Stop Loss at the level of Kijun-sen line (1.44105).

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