GBP/NZD: Ichimoku clouds



Let's look at the four-hour 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 above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Tenkan-sen line (2.0174). One of the previous maximums of Chikou Span line is expected to be a resistance level (2.0420).




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 descending. 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 (2.0148). The closest resistance level is Tenkan-sen line (2.0420).


On the both charts the instrument is still falling. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (2.0420) line and Stop Loss at the level of Kijun-sen line (2.0150).

Scenario

  • Timeframe

    Intraday

  • Recommendation

    BUY

  • Entry Point

    2.0253

  • Take Profit

    2.0420

  • Stop Loss

    2.0150

  • Key Levels

    2.0148, 2.0150, 2.0174, 2.0420

Tifia trading account

Open

GBP/NZD forecast for today.