The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.57975. The closest resistance is the level 0.58450
Key levels
- 0.59100, 0.58700, 0.58450, 0.57975, 0.57650
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 0.58450, with Take Profit of 0.57975 and Stop Loss of 0.58700
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 0.58700, with Take Profit of 0.59100 and Stop Loss of 0.58450
Scenario
Recommendation
SELL LIMIT
Entry Point
0.58450
Take Profit
0.57975
Stop Loss
0.58700
Key Levels
0.59100, 0.58700, 0.58450, 0.57975, 0.57650
Alternative scenario
Recommendation
BUY STOP
Entry Point
0.58700
Take Profit
0.59100
Stop Loss
0.58450