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USD/JPY: general review 21 May 2019, 14:14

USD/JPY: general review 21 May 2019, 14:14 Scenario Timeframe Weekly Recommendation BUY Entry Point 110.26 Take Prof...

Mar 14, 2019

AUD/CAD: Ichimoku clouds 14 March 2019, 06:39


Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 0.9392
Take Profit 0.9325
Stop Loss 0.9436
Key Levels 0.9341 0.9392 0.9436 0.9445
Alternative scenario
Recommendation BUY STOP
Entry Point 0.9436
Take Profit 0.9488
Stop Loss 0.9392
Key Levels 0.9341 0.9392 0.9436 0.9445


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 going to reverse from ascending to descending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (0.9392). The closest resistance level is the lower border of the cloud (0.9436).



On the daily chart Tenkan-sen line is above Kijun-sen, the lines are 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. One of the previous minimums of Chikou Span line is expected to be a support level (0.9341). The closest resistance level is Tenkan-sen line (0.9445).

On the four-hour chart the instrument is trading within the cloud. On the daily chart the Bearish trend is still strong. It is not recommended to open positions at current price. Pending orders should be placed at the cloud’s borders: sell at the level of 0.9392, with Take Profit at 0.9325 and Stop Loss at 0.9436; buy at the level of 0.9436, with Take Profit at 0.9488 and Stop Loss at 0.9392.

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