Apr 9, 2020, 8:49:29 PM

GBP/NZD: Ichimoku clouds



Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is going to reverse from ascending to descending. 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 (2.0241). The closest resistance level is Tenkan-sen line (2.0631).




On the daily chart Tenkan-sen line is below Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is crossing the price chart from above, current cloud is ascending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. The closest support level is the lower border of the cloud (2.0040). One of the previous maximums of Chikou Span line is expected to be a resistance level (2.1032).


On the both charts the instrument is still falling.

Scenario

  • Timeframe

    Intraday

  • Recommendation

    SELL

  • Entry Point

    2.0496

  • Take Profit

    2.0241

  • Stop Loss

    2.0631

  • Key Levels

    2.0040, 2.0241, 2.0631, 2.1032

Tifia trading account

Open

GBP/NZD forecast for today.