GBP/AUD: ICHIMOKU INDICATORS ANALYSIS

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GBP/AUD: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeIntraday
RecommendationSELL
Entry Point1.94236
Take Profit1.93029
Stop Loss1.94647
Key Levels1.93543,1.93029,1.94647,1.<wbr>95896
GBP/AUD: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour 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 (1.94647). The closest resistance level is the lower border of the cloud (1.93029).


GBP/AUD: ICHIMOKU INDICATORS ANALYSIS

On the daily chart Tenkan-sen line is above Kijun-sen, both lines are directed upwards. 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 Kijun-sen line (1.93543). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.95896).


On the four-hour chart the instrument is still falling. 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 (1.93029) and Stop Loss at the level of Kijun-sen line (1.94647).


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