AUD/CHF: Ichimoku Indicators Analysis Report 26 April 2021
Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is going to reverse from ascending to 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 (0.7051). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.7123).
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 ascending. The instrument has entered the cloud. Borders of the cloud serve as the closest support (0.7005) and resistance (0.7140) levels.
On the four-hour chart we can see a correction of the downward movement. On the daily chart the Bullish trend is still strong. It is not recommended to open positions at current price. Pending orders should be placed at the cloud’s borders: sell at the level of 0.7005, with Take Profit at 0.7106 and Stop Loss at 0.6752; buy at the level of 0.7140, with Take Profit at 0.7005 and Stop Loss at 0.7259.
Recommendation: Sell Stop
Entry Point: 0.7005
Take Profit: 0.6752
Stop Loss: 0.7106
Key Levels: 0.7005, 0.7051, 0.7123, 0.7140