GBP/AUD: 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. Borders of the cloud serve as the closest support (1.9301) and resistance (1.9458) levels




On the daily 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 (1.9301). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9740).


On the four-hour chart the instrument is trading within the cloud. On the daily chart we can see a correction of the upward movement. It is not recommended to open positions at current price. Pending orders should be placed at the cloud’s borders: sell at the level of 1.9301, with Take Profit at 1.9230 and Stop Loss at 1.9377; buy at the level of 1.9458, with Take Profit at 1.9504 and Stop Loss at 1.9358.

Scenario

  • Timeframe

    Intraday

  • Recommendation

    SELL STOP

  • Entry Point

    1.9301

  • Take Profit

    1.9230

  • Stop Loss

    1.9377

  • Key Levels

    1.9301, 1.9358, 1.9458, 1.9740

Alternative scenario

  • Timeframe

    Intraday

  • Recommendation

    BUY STOP

  • Entry Point

    1.9458

  • Take Profit

    1.9504

  • Stop Loss

    1.9358

  • Key Levels

    1.9301, 1.9358, 1.9458, 1.9740

Tifia trading account

Open

GBP/AUD forecast for today.