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AUD/CAD: ICHIMOKU INDICATORS ANALYSIS

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AUD/CAD: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeIntraday
RecommendationSELL
Entry Point0.88532
Take Profit0.87305
Stop Loss0.88921
Key Levels0.87305,0.87894,0.88921,0.<wbr>90312
AUD/CAD: ICHIMOKU INDICATORS ANALYSIS

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 ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (0.88921). The closest resistance level is the lower border of the cloud (0.87305).


AUD/CAD: ICHIMOKU INDICATORS ANALYSIS

On the daily chart Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is below 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 (0.87894). The closest resistance level is the upper border of the cloud (0.90312).


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 (0.87305) and Stop Loss at the level of Kijun-sen line (0.88921).


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