Let's look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from above, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is crossing the price chart from above, current cloud is descending. The instrument is trading around upper border of the cloud. One of the previous minimums of Chikou Span line is expected to be a support level (0.62530). The closest resistance level is Tenkan-sen line (0.63000).
On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from below, current cloud is descending. The instrument has been corrected to the Tenkan-sen line. One of the previous minimums of Chikou Span line is expected to be a support level (0.62100). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.63440).
On the four-hour chart we can see a correction of the upward movement. On the daily chart we can see a correction of the upward movement. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (0.63000) line and Stop Loss at the level of Kijun-sen line (0.62530).
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