Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (1.4407). The closest resistance level is the lower border of the cloud (1.4496).
On the daily chart Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains 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 (1.4399). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.4560).
On the four-hour chart the instrument is trading within the cloud. On the daily chart the Bullish trend is still strong. It is not recommended to open positions at current price. Pending orders should be placed at the cloud’s borders: sell at the level of 1.4407, with Take Profit at 1.4150 and Stop Loss at 1.4496; buy at the level of 1.4496, with Take Profit at 1.4735 and Stop Loss at 1.4407.
Euro vs Canadian Dollar
| Buy | Sell | Spread |
| 1.60416 | 1.60291 | 125 |
Scenario
| Time frame | Weekly |
| Recommendations | SELL STOP |
| Entry Point | 1.4407 |
| Take Profit | 1.4150 |
| Stop Loss | 1.4496 |
| Support levels | 1.4399, 1.4407, 1.4496, 1.4560 |
Alternative scenario
| Recommendations | BUY STOP |
| Entry Point | 1.4496 |
| Take Profit | 1.4735 |
| Stop Loss | 1.4407 |
| Support levels | 1.4399, 1.4407, 1.4496, 1.4560 |
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