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> Technical Analysis 13.10.2017 - CAD/CHF: Ichimoku clouds
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Technical Analysis 13.10.2017 - CAD/CHF: Ichimoku clouds

STO

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Let's look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from below, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is crossing the price chart from below, current cloud is ascending. The instrument has broken through the cloud and slowed down its growth. The closest support level is the upper border of the cloud (0.7813). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.7871).

On the daily chart Tenkan-sen line is below Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is approaching the price chart from above, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is the upper border of the cloud (0.7813). The closest resistance level is Kijun-sen line (0.7842).

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

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Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/technial-analysis-13102017-cadchf-ichimoku-clouds/?camp=24219
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