Trading news

Forex: Ichimoku Clouds. Review of AUD/USD

AUD/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are horizontal. Chinkou Span line is below the price chart; current cloud is descending. After short correction the pair continues to fall. Tenkan-sen (0.8940) line is the closest resistance level. One of the previous minimums of Chinkou Span line is expected to be a support level at 0.8890

AUD/USD, D1

On the daily chart Tenkan-sen line has crossed Kijun-sen from below, forming Golden Cross reversal pattern. Under the pressure of the Cross the pair has entered the cloud. Chinkou Span line is above the price chart; current cloud has reversed from descending to ascending. Senkou Span A (0.8866) line is the closest support level. The next obstacle for the price on its way up will be the upper border of the cloud (0.9053).

 Key levels

Support levels: 0.8890, 0.8866.

Resistance levels: 0.8940, 0.9053.

Trading tips

On the four-hour chart we can see a development of the downward movement, although on the daily chart the price is still within the cloud. Target for the short positions is 0.8890.

 

Anastasiya Glushkova

Analyst of LiteForex Group of Companies

Tuesday, 04 Mar, 2014 / 7:42

Source : http://www.liteforex.com/

Trading news

 

Danone Rallies On Sale News

Selling Stake in Chinese Dairy Firm Shares in French food group Danone are [...]

Posted on Monday, 01 Mar, 2021 / 3:40 under

End of the line for the Treasury yields rally?

Markets cheered the new developments for both European and North American [...]

Posted on Monday, 01 Mar, 2021 / 1:26 under

Gold Looking Awfully Weak

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex   On February 26th, the [...]

Posted on Monday, 01 Mar, 2021 / 11:34 under