Technical Analytics Report

GBP/NZD: Ichimoku Indicators Analysis 19 March 2021

GBP/NZD: Ichimoku Indicators Analysis 19 March 2021


GBP/NZD: H4

 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 above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is the upper border of the cloud (1.9366). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9478).

 GBP/NZD: D1

 On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (1.9196). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9652).

 It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (1.9478) line and Stop Loss at the level of Kijun-sen line (1.9366).

 Scenario 

Timeframe: Intraday

Recommendation: Buy

Entry Point: 1.9415

Take Profit: 1.9478

Stop Loss: 1.9366

Key Levels: 1.9196, 1.9366, 1.9478, 1.9652


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