Technical Analytics Report

EUR/GBP: Ichimoku Indicators Analysis 19 April 2021

Let’s look at the four-hour chart. Tenkan-sen and Kijun-sen lines have merged, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is ascending. 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 (0.8622). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.8659).

On the daily 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 above the price chart, current cloud is descending. The instrument has been corrected to the Tenkan-sen line. One of the previous minimums of Chikou Span line is expected to be a support level (0.8577). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.8714).

On the four-hour chart we can see a correction of the upward 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 (0.8622) and Stop Loss at the level of Kijun-sen line (0.8659).

 Scenario

Timeframe: Intraday

Recommendation: Sell

Entry Point: 0.8640

Take Profit: 0.8622

Stop Loss: 0.8659

Key Levels: 0.8577, 0.8622, 0.8659, 0.8714

 

Would you like to download this report?