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 1.57050. The closest resistance is the level 1.57600
Key levels
- 1.58700, 1.58150, 1.57600, 1.57050, 1.56500, 1.55750
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.57050, with Take Profit of 1.56500 and Stop Loss of 1.57600
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.57600, with Take Profit of 1.58150 and Stop Loss of 1.57050
Scenario
Recommendation
SELL STOP
Entry Point
1.57050
Take Profit
1.56500
Stop Loss
1.57600
Key Levels
1.58700, 1.58150, 1.57600, 1.57050, 1.56500, 1.55750
Alternative scenario
Recommendation
BUY STOP
Entry Point
1.57600
Take Profit
1.58150
Stop Loss
1.57050