EOS

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the blue line is directed downwards, while the red one remains horizontal. Confirmative line Chikou Span has crossed the price chart from below, current cloud has reversed from ascending to 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 (4.0074). One of the previous maximums of Chikou Span line is expected to be a resistance level (4.2472).

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 ascending to descending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (3.7022). One of the previous maximums of Chikou Span line is expected to be a resistance level (4.5382).

Recommendation

It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (4.2472) line and Stop Loss at the level of Kijun-sen line (4.0074).