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Forex: Ichimoku Clouds. Review of NZD/USD

NZD/USD, H4

On the four-hour chart Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Chinkou Span line is above the price chart, current cloud is ascending. The pair continues to grow and Tenkan-sen line is still a support level (0.8652). One of the previous maximums of Chinkou Span line is expected to be a resistance level at 0.8703.

NZD/USD, D1

Let’s look at the daily chart. Tenkan-sen line is above Kijun-sen, both line have turned upwards. Chinkou Span line is above the price chart; current cloud is ascending. After a small correction the pair returned within Bullish trend. Tenkan-sen line is a support level at 0.8610. One of the previous maximums of Chinkou Span line is expected to be a resistance level at 0.8800.

Key levels

Support levels:  0.8652, 0.8610.

Resistance levels:  0.8703, 0.8800.

Trading tips

On the both charts the pair continues to rise. The targets for the long positions are 0.8703 and 0.8800.

 

Anastasiya Glushkova 
Analyst of LiteForex Group of Companies 

Wednesday, 09 Apr, 2014 / 9:59

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

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