Trading news

Forex: Ichimoku Clouds. Review of USD/CHF

USD/CHF, H4

On the four-hour chart Tenkan-sen Line is above Kijun-sen, they are both horizontal. Chinkou Span line is above the price chart; current cloud is ascending. The closest support level is Tenkan-sen line (0.9027). One of the previous maximums of Chinkou Span line is going to be a resistance level at 0.9094.

USD/CHF, D1

Let’s look at the daily chart. Tenkan-sen and Kijun-sen lines are getting closer and going to form a reversal pattern. Chinkou Span is approaching the price chart from below; current cloud is still descending. The pair has broken through Tenkan-sen and Kijun-sen lines; the latter has become a support level at 0.8955. The next obstacle for the price on its way up will be the lower border of the cloud (0.9084).

Key levels

Support levels:  0.9027, 0.8955.

Resistance levels:  0.9094, 0.9084.

Trading tips

On the four-hour chart we can see a slowdown of the upward movement; however, the same movement on the daily chart is a long correction of Bearish trend. Targets for the long positions are at 0.9094 and 0.9084.

 

Anastasiya Glushkova 
Analyst of LiteForex Group of Companies 

 

Tuesday, 07 Jan, 2014 / 8:23

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

Trading news

 

A Quiet Start Expected

The economic calendar is relatively quiet for today. This comes ahead of a [...]

Posted on Monday, 22 Jul, 2019 / 11:59 under

Weekly Outlook: July 22 – July 26: UK Election, EU and US PMIs, ECB Meeting

It will be an important week for the UK’s political life, where on [...]

Posted on Monday, 22 Jul, 2019 / 7:26 under

FACEBOOK EARNINGS PREVIEW: Will Ads Revenue Lift the Share to its All-Time High?

FACEBOOK EARNINGS PREVIEW: Will Ads Revenue Lift the Share to its All-Time [...]

Posted on Monday, 22 Jul, 2019 / 3:59 under