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 above the price chart, current cloud is ascending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (1.8985). The closest resistance level is the lower border of the cloud (1.9125).
On the daily chart Tenkan-sen line is crossing Kijun-sen from above, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has broken through the cloud and slowed down its growth. The closest support level is the upper border of the cloud (1.9010). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9200).
On the four-hour chart the instrument is trading within the cloud. On the daily chart the instrument has broken through the cloud, forming a strong signal to buy. It is recommended to open long positions at current price with the target at the level of previous maximum of Chikou Span line (1.9200) and Stop Loss at the upper border of the cloud (1.9010).
|Key Levels||1.8985, 1.9125|
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