Forex: Ichimoku Clouds. Review of NZD/USD
NZD/USD, H4
Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, they are both horizontal. Chinkou Span is below the price chart, current cloud is descending. The price has broken through the cloud but been corrected above the red line after the fall. Tenkan-sen (0.8184) and Kijun-sen (0.8258) lines have become support and resistance levels respectively.
NZD/USD, D1
On the daily chart Tenkan-sen line is also below Kijun-sen. The pair has entered the cloud, which lower border becomes a support level at 0.8123. Chinkou Span line has crossed the price chart from above; current cloud has reversed from ascending to descending. The closest resistance level is Tenkan-sen line at 0.8264.
Key levels
Support levels: 0.8184, 0.8123.
Resistance levels: 0.8258, 0.8264.
Trading tips
On the four-hour chart we can see a correction as a part of downward trend. It’s a good opportunity to open new short trades with targets around 0.8123. On the daily chart the price has entered the cloud; it is not advised to open long-term positions.
Anastasiya Glushkova
Analyst of LiteForex Group of Companies
--------------------------------------------------------------
Forex: Ichimoku Clouds. Review of USD/CAD
USD/CAD, H4
On the four-hour chart Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one is moving sideways. Chinkou Span line is above the price chart; current cloud is ascending. The closest support level is Tenkan-sen line at 1.0544. One of the previous maximums of Chinkou Span line is expected to be a resistance level at 1.0670.
USD/CAD, D1
At the daily chart we can see the same situation. 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 at 1.0495. One of the previous maximums of Chinkou Span line is expected to be a resistance level at 1.0640.
Key levels
Support levels: 1.0544, 1.0495.
Resistance levels: 1.0640, 1.0670.
Trading tips
On the both charts Ichimoku lines indicate the continuation of the upward movement. The targets for the long positions are 1.0640 and 1.0670.
Anastasiya Glushkova
Analyst of LiteForex Group of Companies
--------------------------------------------------------------
GBP/USD: The Pound is unlikely to grow
Current trend
The pair had completed last week at the peak of the ascending movement. At the opening of a new trading session the Pound went higher up to the level of 1.6240 after which it has corrected downward. The pair has nearly reached the annual highs of 1.6260; however it will be difficult for the “bulls” to overcome this level. Key news of this week is the data on the UK GDP for Q3 this year.
Support and resistance
The nearest resistance level is at the local highs of 1.6240 and 1.6260; the latter one is the key level of the “bulls”. Support levels are 1.6210, 1.6180 and 1.6150.
Trading tips
It is likely that the pair will roll back to the levels of 1.6150 and 1.6120. Limited buy orders can be placed at the same levels.
Ilya Lashenko
Analyst of LiteForex Group of Companies
No comments:
Post a Comment