CAD/CHF: Ichimoku indicators analysis

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CAD/CHF: Ichimoku indicators analysis
Scenario
TimeframeIntraday
RecommendationBUY
Entry Point0.6253
Take Profit0.6308
Stop Loss0.6240
Key Levels0.6245, 0.6275, 0.6214, 0.6269
CAD/CHF: Ichimoku indicators analysis

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud has reversed from ascending to descending. The instrument has broken through Tenkan-sen and Kijun-sen lines. Borders of the cloud serve as the closest support (0.6245) and resistance (0.6275) levels


CAD/CHF: Ichimoku indicators analysis

On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from above, current cloud has reversed from descending to ascending. The instrument is trading around lower border of the cloud. Borders of the cloud serve as the closest support (0.6214) and resistance (0.6269) levels


On the four-hour chart we've got a signal of trend reversal from descending to ascending. On the daily chart we can see a correction of the downward movement. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (0.6308) line and Stop Loss at the level of Kijun-sen line (0.6240).


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