GBP/AUD: ICHIMOKU INDICATORS ANALYSIS

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GBP/AUD: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeIntraday
RecommendationBUY
Entry Point1.9285
Take Profit1.9585
Stop Loss1.9166
Key Levels1.9238, 1.9336, 1.9201, 1.9375
GBP/AUD: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (1.9238). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9336).


GBP/AUD: 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 has reversed from ascending to descending. The instrument is trading around lower border of the cloud. One of the previous minimums of Chikou Span line is expected to be a support level (1.9201). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9375).


On the four-hour chart the instrument is still rising. 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 (1.9585) line and Stop Loss at the level of Kijun-sen line (1.9166).

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