Trading news

Forex: Ichimoku Clouds. Review of NZD/USD

NZD/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from above, forming Dead Cross reversal pattern. Chinkou Span is crossing the price chart from above, current cloud is still ascending. Tenkan-sen line is the closest resistance level at 0.8322. The next obstacle for the price on its way down will be the upper border of the cloud at 0.8271.

NZD/USD, D1

On the daily chart Tenkan-sen line is above Kijun-sen and they are both horizontal. Chinkou Span line is crossing the price chart; current cloud has reversed from descending to ascending. The pair weren’t able to consolidate above the cloud and returned within its borders. Senkou Span B line becomes a resistance level (0.8313). The support will be at the level of 0.8274 (Kijun-sen line).

Key levels

Support levels:  0.8271, 0.8274.

Resistance levels:  0.8322, 0.8313.

Trading tips

On the four-hour chart we’ve got signals of trend reversal. Targets for the short positions are at the level of 0.8271. On the daily chart the price has entered the cloud, it is not recommended to open new long-term trades.

Anastasiya Glushkova

Analyst of LiteForex Group of Companies

 

Friday, 17 Jan, 2014 / 9:41

Source : https://www.liteforex.com/

Trading news

 

Starting winter with optimism

The market sentiment is risk-on today due to the vaccine optimism and [...]

Posted on Tuesday, 01 Dec, 2020 / 10:11 under

Uncertainty keeping the yellow supported – GOLD Market Outlook – 01/12/2020

Gold crawled higher, making its way towards our long entry resistance target [...]

Posted on Tuesday, 01 Dec, 2020 / 9:28 under

Euro Bulls eyeing to break above 1.20 – EUR/USD Market Outlook – 01/12/2020

The Euro touched our 1.20 target yesterday before retracing all the way back [...]

Posted on Tuesday, 01 Dec, 2020 / 9:25 under