Trading Opportunities for next week
Upcoming TeleTrade Webinar by Marios Athinodorou Topic: How to trade cryptocurrencies uniquely Thursday 24/04 at 15:00 (GMT+3) Sign up here!
GBPUSD: Based on the Ichimocu system the GBPUSD is in a bearish kumo breakout since 20.4.2018.
As we may notice here the price is below the kumo and all the lines Kijun sen ,tekan sen and Chikou span are also below the kumo. Tekan sen and kijun sen seem to be in a bearish formation.
The chikou span is inside the price meaning that the price may start the process for reversing.
If we look at the stochastic we can see that the price is reaching the oversold 20 level giving us another clue of a possible reversal to the upside.
Now to be able to start looking for any potential bullish signals next week we need to see the price crossing the lines tekan sen and kijun sen but also price would need to cross the cloud to the long side to have partial confirm kumo breakout signal.
If the Chikou san line heads out of the kumo we may get a confirmation of a potential breakout signal.
EURUSD: On this pair we observed a dropdown from 19.4.2018 based on the Ichimocu system.
The price is below the cloud and below the line Tekan sen ,Kijun sen,and chikou span might be confirming the valid kumo breakout signal.
Now the price crossed the lines may indicate a potential start of a reversal but to be able to start looking for any potential long signals we need to look for the price to cross the kumo to the upside and the chikou span needs to be also above the price and kumo.
About the Author:
Marios Athinodorou is TeleTrade’s market analyst and commentator. Apart from being an experienced trader, Marios is an advanced technical analyst and is interested in trading psychology. He has 7 years of trading expertise in Forex and CFDs, providing insights to share with all kinds of traders, from beginners to experts. Among others, Marios is delivering weekly trading webinars. Sign up for upcoming webinars, here.
Disclaimer: Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and education purposes. Personal Opinion of the Author does not represent and should not be construed as a statement or an investment advice made by TeleTrade. All Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
Risk Warning: Investment services are provided by TeleTrade-DJ International Consulting Ltd, a Cyprus Investment Firm under reg. number HE272810 operating in accordance with MiFID, under license 158/11 by the Cyprus Securities and Exchange Commission. Trading in leveraged derivative financial instruments carries a high level of risk and may not be suitable for all investors. Past performance is not a reliable indicator of future results. Indiscriminate reliance on informational or historical materials may lead to losses