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

 

Dollar Retreats Ahead Of Inauguration

The dollar index slid 0.25% lower yesterday as the 45th President exited the [...]

Posted on Wednesday, 20 Jan, 2021 / 1:36 under

Stocks climb, dollar slips as Yellen makes case for more stimulus

  Stocks power higher after Yellen calls for more big spending to [...]

Posted on Wednesday, 20 Jan, 2021 / 10:22 under

Janet Yellen’s Speech Revitalized Risk Appetite – EUR/USD Market Outlook – 20/01/2021

The Euro rises above 1.2130 as expected, after risk-on sentiment weighed on [...]

Posted on Wednesday, 20 Jan, 2021 / 9:15 under