AUD/CAD: ICHIMOKU INDICATORS ANALYSIS

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AUD/CAD: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeIntraday
RecommendationSELL
Entry Point0.8776
Take Profit0.8647
Stop Loss0.8816
Key Levels0.8643, 0.8647, 0.8816, 0.8820
AUD/CAD: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the blue line is directed downwards, while the red one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is the lower border of the cloud (0.8816). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.8647).


AUD/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 crossing 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 Kijun-sen line (). One of the previous maximums of Chikou Span line is expected to be a resistance level ().


On the both charts the instrument is still falling. It is recommended to open short positions at current price with the target at the level of previous minimum of Chikou Span line (0.8647) and Stop Loss at the lower border of the cloud (0.8816).

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