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 line, they are both horizontal, indicating sideways trend. Chinkou Span line is approaching the price chart from below, current cloud is descending. After an abrupt fall the price is consolidating at the level of Tenkan-sen and Kijun-sen lines, the closest resistance level is the lower border of the cloud (22.08). One of the previous extremums of Chinkou Span line is expected to be a support level at 21.28.

XAG/USD, D1

On the daily chart Tenkan-sen line is above Kijun-sen line, and they are both horizontal. However, the price has broken through the cloud and is consolidating below the resistance level of Kijun-sen line (21.78). Chinkou Span line is following the price chart, current Kumo is descending.  One of the previous extremums of Chinkou Span line is expected to be a support level at 21.20.

Key levels

Support levels:  21.78, 22.08.

Resistance levels:  21.28, 21.20.

Trading tips

On the four-hour chart the signal to open long trades may be the cross of the price chart and Chinkou Span line. But daily chart doesn’t confirm the trend reversal. In middle-term scenario it is recommended to open short trades with targets at 21.28 and 21.20.

 

Anastasiya Glushkova

Analyst of LiteForex Group of Companies

Friday, 08 Nov, 2013 / 8:13

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

Trading news

 

A fair price for aluminum

The aluminum market has been bearish for almost a year. The maximum was last [...]

Posted on Tuesday, 23 Apr, 2019 / 2:08 under

AETOS Market Commentary 23/04/2019

  EURUSD The Euro closed higher on Monday, closing at 1.1259(+15 pips) [...]

Posted on Tuesday, 23 Apr, 2019 / 8:23 under

US Ends Waivers on Iranian Oil, Spotlight Turns to Australia’s CPIs

Oil prices surged yesterday, following reports that the US was ready to end [...]

Posted on Tuesday, 23 Apr, 2019 / 7:53 under