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

 

Can the Bank of Canada pull off a ‘cautious’ tapering?

· Bank of Canada likely to scale down its vast QE program today [...]

Posted on Wednesday, 21 Apr, 2021 / 9:16 under

JOHNSON & JOHNSON SHARES SPIKE ON EARNINGS BEAT

The company’s quarterly results come at a time when the distribution of [...]

Posted on Wednesday, 21 Apr, 2021 / 7:42 under

Intraday Market Analysis – Recovery Momentum

EURUSD breaks above key resistance eurusd The euro recoups last month’s [...]

Posted on Tuesday, 20 Apr, 2021 / 1:00 under