Let's look at the four-hour 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 between Tenkan-sen and Kijun-sen lines. The closest support level is Kijun-sen line (1.6524). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.6842).
On the daily 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 going to reverse from descending to ascending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (1.6402). The closest resistance level is the lower border of the cloud (1.6693).
On the four-hour chart the instrument is still rising. On the daily chart the instrument is trading within the cloud. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (1.6842) line and Stop Loss at the level of Kijun-sen line (1.6524).
Euro vs New Zealand Dollar
| Buy | Sell | Spread |
| 1.98463 | 1.98317 | 146 |
Scenario
| Time frame | Day's Range |
| Recommendations | BUY |
| Entry Point | 1.6586 |
| Take Profit | 1.6842 |
| Stop Loss | 1.6524 |
| Support levels | 1.6402, 1.6524, 1.6842, 1.6693 |
Alternative scenario
| Recommendations | |
| Entry Point | |
| Take Profit | |
| Stop Loss | |
| Support levels |
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