SX5E: ICHIMOKU INDICATORS ANALYSIS

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SX5E: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeIntraday
RecommendationSELL
Entry Point4786.3
Take Profit4660.5
Stop Loss4827.3
Key Levels4607.1,4660.5,4827.3,4847.4
SX5E: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the blue line is directed downwards, while the red one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is the lower border of the cloud (4827.3). One of the previous maximums of Chikou Span line is expected to be a resistance level (4660.5).


SX5E: ICHIMOKU INDICATORS ANALYSIS

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 between Tenkan-sen and Kijun-sen lines. The closest support level is Tenkan-sen line (4847.4). One of the previous maximums of Chikou Span line is expected to be a resistance level (4607.1).


On the both charts the instrument is still falling. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (4660.5) and Stop Loss at the level of Kijun-sen line (4827.3).


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