| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL |
| Entry Point | 1.0960 |
| Take Profit | 1.0861 |
| Stop Loss | 1.1011 |
| Key Levels | 1.1010,1.1011,1.0860,1.0861 |
Let's look at the four-hour chart. Tenkan-sen line is below 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 has entered the cloud. One of the previous minimums of Chikou Span line is expected to be a support level (1.0860). The closest resistance level is the lower border of the cloud (1.1010).
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 above the price chart, current cloud is ascending. 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 (1.0861). The closest resistance level is Tenkan-sen line (1.1011).
On the four-hour chart the instrument is trading within the cloud. On the daily chart the Bearish 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 (1.0861) and Stop Loss at the level of Kijun-sen line (1.1011).
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