Technical Analytics Report

EUR/CAD: Ichimoku Indicators Analysis 26 March 2021

EUR/CAD: Ichimoku Indicators Analysis 26 March 2021


EUR/CAD: H4

 Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above 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 (1.4783). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.4864).

 EUR/CAD: D1

 On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above 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 (1.4728). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.4924).

  On the four-hour chart we can see a correction of the downward movement. On the daily chart the Bearish trend is still strong. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (1.4280) and Stop Loss at the level of Kijun-sen line (1.5090).

 Scenario

 Timeframe: Weekly

Recommendation: Sell

Entry Point: 1.4783

Take Profit: 1.4280

Stop Loss: 1.5090

Key Levels: 1.4728, 1.4783, 1.4864, 1.4924


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