Trading news

Forex: Ichimoku Clouds. Review of USD/CHF

USD/CHF, H4

On the four-hour chart Tenkan-sen line has crossed Kijun-sen from below within the cloud, indicating the reversal of the trend. Chinkou Span line has crossed the price chart from below; Senkou Span A and Senkou Span B lines are going to cross, forming cloud reversal. Due to the strong Bullish movement the pair has entered the cloud but couldn’t reach its upper border, which has become a resistance level at 0.8972. Tenkan-sen line is the closest support level at 0.8902.

USD/CHF, D1

Let’s look at the daily chart. Tenkan-sen line is below Kijun-sen, they are both directed downwards. Chinkou Span is below the price chart; current cloud is still descending. After a long fall the pair has been corrected above Tenkan-sen line (0.8897), which has become a support level now. The closest resistance level is Kijun-sen line at 0.9011.

Key levels

Support levels:  0.8902, 0.8897.

Resistance levels:  0.8972, 0.9011.

Trading tips

On the four-hour chart we’ve got two signals of trend reversal, however the pair has entered the cloud, so new long trades should be opened above its upper border (0.8972). Daily chart doesn’t confirm the reversal of the trend, but shows us a correction of the descending movement.

Anastasiya Glushkova 
Analyst of LiteForex Group of Companies 

Thursday, 19 Dec, 2013 / 8:21

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

Trading news

 

BoE clips pound’s wings, equities brace for turbulence

  Sterling capsizes after BoE opens door to negative [...]

Posted on Friday, 18 Sep, 2020 / 8:47 under

DAX remains in a range – DAX 30 Market Outlook – 18/09/2020

European equities continue to trade in a range between 13135 support and 13300 [...]

Posted on Friday, 18 Sep, 2020 / 8:35 under

OIL breached above the 200-daily SMA – US OIL Market Outlook – 18/09/2020

WTI Crude breached the 200 period SMA on the daily chart, hitting our long [...]

Posted on Friday, 18 Sep, 2020 / 8:20 under