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> Technical Analysis 26.10.2017 - AUD/CAD: Ichimoku clouds
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Technical Analysis 26.10.2017 - AUD/CAD: Ichimoku clouds

STO

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Let's look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from above, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud has reversed 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 (0.9853). The closest resistance level is Tenkan-sen line (0.9871).

On the daily chart Tenkan-sen line has crossed Kijun-sen from below, the blue line is directed downwards, while the red one remains horizontal. Confirmative line Chikou Span is crossing the price chart from above, current cloud is descending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is the lower border of the cloud (0.9851). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.9890).

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/technical-analysis-26102017-audcad-ichimoku-clouds/?camp=24219
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