Trading news

Forex: Ichimoku Clouds. Review of XAG/USD

XAG/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, they are both horizontal. Chinkou Span line is below the price chart; current cloud is descending. The pair continues to fall, the closest resistance level is Tenkan-sen line at 19.90. One of the previous minimums of Chinkou Span line is expected to be a support level at 19.34.

XAG/USD, D1

On the daily chart Tenkan-sen line has crossed Kijun-sen from above, forming trend reversal pattern. Chinkou Span line has crossed the price chart from above; current cloud is still ascending. The pair has broken down the cloud and is still falling. The closest resistance level is Senkou Span B line (20.33). One of the previous minimums of Chinkou Span line is expected to be a support level at 19.16.

Key levels

Support levels:  19.34, 19.16.

Resistance levels:  19.90, 20.33.

Trading tips

Both charts confirm Bearish trend, targets for the short positions are 19.34 and 19.16.

 

Anastasiya Glushkova

Analyst of LiteForex Group of Companies

Thursday, 27 Mar, 2014 / 8:08

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

Trading news

 

Jerome Powell speaks to the Wall Street Journal, the markets react instantly

The Fed Head’s WSJ interview generated plenty of interest in the [...]

Posted on Friday, 05 Mar, 2021 / 1:03 under

Dollar surges, stocks sink after Powell lets yields run loose

  Powell gives no hints about possible action to stem selloff in [...]

Posted on Friday, 05 Mar, 2021 / 10:26 under

Inflation fears & rising bond yields spooked investors – FTSE 100 Market Outlook – 05/03/2021

Stocks in London were going up nicely yesterday during the European trading [...]

Posted on Friday, 05 Mar, 2021 / 9:28 under