The most significant signal of the previous trading sessions was the intersection of the Tenkan and Kijun lines, which is considered as a signal of a change in trend in the market.
The current situation
Let’s carefully look at the current values of the main components of the Ichimoku indicator to assess the current state of the market:
The market price remains above the Tenkan and the Kijun lines, indicating a prevailing positive market sentiment.
Now the Kumo cloud is tinted lilac, which indicates a possible change in price dynamics in a negative direction.
Currently, the Kumo cloud lines represent a dynamic support area for price.
Used by investors to identify a change in trend, the green Chikou line is held below the price on the chart.
Trading recommendations:
Dynamic support levels are seen at the Tenkan line near 1.33977, the Kijun line around 1.33753, the SenkouA line near 1.33756, and the SenkouB line around 1.34239.
