GBP/AUD: ICHIMOKU INDICATORS ANALYSIS

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GBP/AUD: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeWeekly
RecommendationSELL
Entry Point1.9137
Take Profit1.8613
Stop Loss1.9302
Key Levels1.9098, 1.9170, 1.9042, 1.9302
GBP/AUD: ICHIMOKU INDICATORS ANALYSIS

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 been corrected to the Tenkan-sen line. One of the previous minimums of Chikou Span line is expected to be a support level (1.9098). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9170).


GBP/AUD: ICHIMOKU INDICATORS ANALYSIS

On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading between Tenkan-sen and Kijun-sen lines. Tenkan-sen and Kijun-sen lines have become support (1.9042) and resistance (1.9302) levels respectively


On the four-hour chart we've got a signal of trend reversal from descending to ascending. On the daily chart the Bearish trend is still strong. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (1.8613) and Stop Loss at the level of Kijun-sen line (1.9302).

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