Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is above the price chart, current cloud has reversed 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 (80.021). The closest resistance level is Tenkan-sen line (80.423). On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. The closest support level is the upper border of the cloud (79.760). One of the previous maximums of Chikou Span line is expected to be a resistance level (80.763). On the four-hour chart the instrument is still falling. On the daily chart the Bullish trend is still strong. It is recommended to open long positions at current price with the target at the level of previous maximum of Chikou Span line (81.381) and Stop Loss at the upper border of the cloud (79.760).
Copyright © 2011 - 2020
Tifia Markets Limited, All rights reserved
Email: support@tifia.com