EUR/TRY: Ichimoku indicators analysis

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EUR/TRY: Ichimoku indicators analysis
Scenario
TimeframeIntraday
RecommendationBUY
Entry Point36.3335
Take Profit36.3463
Stop Loss36.3273
Key Levels36.3112, 36.3273, 36.3407, 36.3463
EUR/TRY: Ichimoku indicators analysis

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is approaching the price chart from below, 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 Tenkan-sen line (36.3273). The closest resistance level is the lower border of the cloud (36.3463).


EUR/TRY: Ichimoku indicators analysis

On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is Kijun-sen line (36.3407). The closest resistance level is Tenkan-sen line (36.3112).


On the four-hour chart the instrument is still rising. On the daily chart the Bearish trend is still strong. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (36.3463) line and Stop Loss at the level of Kijun-sen line (36.3273).


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