EUR/NZD: Ichimoku clouds
Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is Kijun-sen line (1.7112). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.7242).
On the daily chart Tenkan-sen and Kijun-sen lines have merged, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. Merged Tenkan-sen and Kijun-sen lines have become a strong support level (1.7091). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.7263).
It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (1.7242) line and Stop Loss at the level of Kijun-sen line (1.7112).
|Key Levels||1.7091 1.7112 1.7242 1.7263|
Risk Warning. Trading on financial markets carries risks. Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience. Click here for our full Risk Disclosure.
Our company’s service is not provided to the citizens (residents) United States of America, Canada, Israel, Belgium, Japan and the Republic of Vanuatu and citizens of any state or country where the service is not made available.
- Tifia Markets Limited is licensed as a "Dealer in Securities" (registration number 40209) by the "Ministry of Finance and Economic Management" and regulated in accordance with the "Dealers in Securities (Licensing) Act [CAP.70]" of the Republic of Vanuatu. The Company address: Govant Building, BP 1276 Port Vila, The Republic of Vanuatu.