Technical Analytics Report

GBP/CAD: Ichimoku Indicators Analysis 15 April 2021

GBP/CAD: Ichimoku Indicators Analysis 15 April 2021

 

GBP/CAD: H4

 Let’s look at the four-hour chart. Tenkan-sen line is above 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 between Tenkan-sen and Kijun-sen lines. One of the previous minimums of Chikou Span line is expected to be a support level (1.7025). The closest resistance level is Kijun-sen line (1.7302).


GBP/CAD: D1

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 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 (1.6955). The closest resistance level is Kijun-sen line (1.7345).

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 (1.7025) and Stop Loss at the level of Kijun-sen line (1.7302).

 Scenario

 Timeframe: Intraday

 Recommendation: Sell

 Entry Point: 1.7246

 Take Profit: 1.7025

 Stop Loss: 1.7302

 Key Levels: 1.6955, 1.7025, 1.7302, 1.7345


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