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USD/CAD: general analysis 21 September 2018, 12:37

USD/CAD: general analysis 21 September 2018, 12:37 Scenario Timeframe Weekly Recommendation SELL Entry Point 1.2905 ...

Jul 11, 2018

EUR/NZD: Ichimoku clouds 11 July 2018, 22:03

Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.7257
Take Profit 1.7360
Stop Loss 1.7216
Key Levels 1.7160, 1.7196, 1.7220, 1.7253, 1.7295, 1.7341, 1.7360.


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 approaching the price chart from above, current cloud is descending. The instrument is trading around upper border of the cloud. The closest support level is the upper border of the cloud (1.7248). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.7310).



On the daily chart Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. One of the previous minimums of Chikou Span line is expected to be a support level (1.7166). The closest resistance level is Tenkan-sen line (1.7236).

On the four-hour chart we can see a correction of the upward movement. On the daily chart the Bullish trend is still strong. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (1.7360) and Stop Loss at the level of Kijun-sen line (1.7216).

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