SX5E: Ichimoku indicators analysis

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SX5E: Ichimoku indicators analysis
Scenario
TimeframeIntraday
RecommendationBUY
Entry Point4947.2
Take Profit5067.8
Stop Loss4908.1
Key Levels4886.0, 4908.1, 5067.8, 5128.4
SX5E: 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 descending. The instrument is trading between Tenkan-sen and Kijun-sen lines. One of the previous minimums of Chikou Span line is expected to be a support level (4908.1). One of the previous maximums of Chikou Span line is expected to be a resistance level (5067.8).


SX5E: Ichimoku indicators analysis

On the daily chart Tenkan-sen line is below Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is the upper border of the cloud (4886.0). One of the previous maximums of Chikou Span line is expected to be a resistance level (5128.4).


It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (5067.8) line and Stop Loss at the level of Kijun-sen line (4908.1).


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