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Forex: Ichimoku Clouds. Review of USD/CHF

USD/CHF, H4

On the four-hour chart Tenkan-sen line is above Kijun-sen, Chinkou Span line has crossed the price chart from below. Current cloud is descending with the flat Kumo-top. The pair has broken through the cloud and is trying to consolidate above it. The closest support level is Senkou Span B line at 0.9029. One of the previous maximums of Chinkou Span line is going to be a resistance level at 0.9128.

USD/CHF, D1

Let’s look at the daily chart. Tenkan-sen line is above Kijun-sen, they are both horizontal. Chinkou Span is above the price chart; current cloud is descending. The pair wasn’t able to consolidate above the cloud and returned within its borders. Senkou Span B line is the closest resistance level at 0.9040. Kijun-sen line becomes a support level at 0.8978.

Key levels

Support levels:  0.9029, 0.8978.

Resistance levels:  0.9040, 0.9128.

Trading tips

On the four-hour chart the pair has broken through the cloud, but is still following its flat upper border. On the daily chart the pair is trading within the cloud. Pending buy orders can be placed above the level of 0.9040.

Anastasiya Glushkova 
Analyst of LiteForex Group of Companies 

Friday, 31 Jan, 2014 / 9:05

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

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