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USD/CHF: Murrey analysis 18 March 2019, 13:48

USD/CHF: Murrey analysis 18 March 2019, 13:48 Scenario Timeframe Intraday Recommendation SELL Entry Point 1.0000 Tak...

Jan 10, 2019

GBP/CAD: Ichimoku clouds 10 January 2019, 10:11


Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 1.6893
Take Profit 1.6715
Stop Loss 1.6940
Key Levels 1.6940, 1.6855, 1.6715


Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading between Tenkan-sen and Kijun-sen lines. One of the previous minimums of Chikou Span line is expected to be a support level (1.6955). The closest resistance level is Kijun-sen line (1.6855).



On the daily chart Tenkan-sen line is above Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (1.6715). The closest resistance level is the upper border of the cloud (1.6940).

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 (1.6715) and Stop Loss at the lower border of the cloud (1.6940).

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