Trading news

Forex: Ichimoku Clouds. Review of XAG/USD

XAG/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from above, forming “Dead Cross” 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 slowed down its fall. Lower border of the cloud is the closest resistance level at 19.25. One of the previous minimums of Chinkou Span line is expected to be a support level at 18.88.

XAG/USD, D1

On the daily chart Tenkan-sen line is below Kijun-sen, both lines are horizontal. Chinkou Span line is below the price chart from; current cloud is descending. The pair is being corrected around Tenkan-sen line (19.27). One of the previous minimums of Chinkou Span line is expected to be a support level at 18.48.

Key levels

Support levels:  18.88, 18.48.

Resistance levels:  19.25, 19.27.

Trading tips

Both charts confirm the development of the Bearish trend. Short trades can be opened at current price with targets at 18.88 и 18.48.

 

Anastasiya Glushkova

Analyst of LiteForex Investments Limited

Friday, 09 May, 2014 / 8:46

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

Trading news

 

AUD/JPY: Is it going to produce a Morning Star?

AUD/JPY produced two consecutive bullish candles in the daily chart. The H4 [...]

Posted on Thursday, 13 Aug, 2020 / 11:58 under

GBP/USD Breaking out of Symmetric Triangle Pattern - Trade Idea!  

The GBP/USD pair was closed at 1.30311 after placing a high of 1.30674 and a [...]

Posted on Thursday, 13 Aug, 2020 / 11:45 under

Gold Sideways Trading Continues - Things You Need to Know! 

The yellow metal prices stopped its previous day sharp declines and recovered [...]

Posted on Thursday, 13 Aug, 2020 / 11:33 under