GBP/NZD: Ichimoku Indicators Analysis 06 April 2021
Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from below, current cloud is ascending. 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 (1.9649). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9762).
GBP/NZD:D1On the daily
chart Tenkan-sen line is above Kijun-sen, the blue line is directed upwards,
while the red one remains horizontal. Confirmative line Chikou Span is above
the price chart, current cloud is ascending. The instrument has been corrected
to the Tenkan-sen line. The closest support level is Kijun-sen line (1.9496).
One of the previous maximums of Chikou Span line is expected to be a resistance
On the four-hour chart we can see a correction of the upward movement. On the daily chart the Bullish trend is still strong. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (1.9762) line and Stop Loss at the level of Kijun-sen line (1.9649).
Entry Point: 1.9705
Take Profit: 1.9762
Stop Loss: 1.9649
Key Levels: 1.9496, 1.9649, 1.9762, 1.9891