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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

GBP/CAD: Ichimoku clouds 11 July 2018, 21:51

Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.7429
Take Profit 1.7531
Stop Loss 1.7385
Key Levels 1.7323, 1.7362, 1.7380, 1.7411, 1.7453, 1.7480, 1.7508, 1.7530.


Let's look at the four-hour chart. Tenkan-sen line is crossing Kijun-sen from above, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is crossing the price chart from above, current cloud is going to reverse from descending to ascending. The instrument has broken through Tenkan-sen and Kijun-sen lines. The closest support level is Tenkan-sen line (1.7391). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.7451).



On the daily chart Tenkan-sen line has crossed Kijun-sen from above, the blue line is directed upwards, while the red one remains horizontal. Confirmative line Chikou Span is approaching the price chart from above, current cloud is going to reverse from descending to ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. Tenkan-sen and Kijun-sen lines have become support (1.7381) and resistance (1.7514) levels respectively

It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (1.7531) line and Stop Loss at the level of Kijun-sen line (1.7385).

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