Published On: Thu, Feb 23rd, 2017

EUR/TRY: Ichimoku clouds

InstaForex
Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is 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 (3.70000). The closest resistance level is Tenkan-sen line (3.78400). On the daily chart Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span has crossed the price chart from above, current cloud is ascending. The instrument has broken down the cloud and is still falling. One of the previous minimums of Chikou Span line is expected to be a support level (3.65000). The closest resistance level is Tenkan-sen line (3.82300).
On the four-hour chart the instrument is still falling. On the daily chart the instrument has broken down the cloud, forming a strong signal to sell. It is recommended to open short positions at current price with the target at the level of previous minimum of Chikou Span line (3.65000) and Stop Loss at the lower border of the cloud (3.82300).

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Аналитика Форекс

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>