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EUR/GBP: Ichimoku clouds


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.87806
Take Profit 0.88260
Stop Loss 0.87478
Key Levels 0.87478, 0.87478, 0.88260, 0.88260

Let's look at the four-hour chart. Tenkan-sen and Kijun-sen lines have merged, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. Merged Tenkan-sen and Kijun-sen lines have become a strong support level (0.87478). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.88260). On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . 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. The closest support level is Tenkan-sen line (0.87478). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.88260).
It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (0.88260) line and Stop Loss at the level of Kijun-sen line (0.87478).
Από το Blogger.