Technical Analytics Report

EUR/AUD: Ichimoku Indicators Analysis 24 Feb 2021

EUR/AUD: Ichimoku Indicators Analysis 24 Feb 2021

 

EUR/AUD: H4

 Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (1.5233). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.5410).

 EUR/AUD: D1

 On the daily 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 descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (1.4849). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.5948).

 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 (1.5233) and Stop Loss at the level of Kijun-sen line (1.5410).

 Scenario

 Timeframe: Intraday

Recommendation: Sell

Entry Point: 1.5349

Take Profit: 1.5233

Stop Loss: 1.5410

Key Levels: 1.4849, 1.5233, 1.5410, 1.5948

 

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