Technical Analytics Report

GBP/NZD: Ichimoku Indicators Analysis 09 April 2021

GBP/NZD: Ichimoku Indicators Analysis 09 April 2021

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 going to reverse from ascending to 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 (1.9421). The closest resistance level is Tenkan-sen line (1.9536).

On the daily 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 above 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 (1.9339). The closest resistance level is Tenkan-sen line (1.9621).

 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 (1.9421) and Stop Loss at the level of Kijun-sen line (1.9536).

 Scenario

 Timeframe: Intraday

 Recommendation: Sell

 Entry Point: 1.9482

 Take Profit: 1.9421

 Stop Loss: 1.9536

 Key Levels: 1.9339, 1.9421, 1.9536, 1.9621 


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