Desember 30, 2013 - Forex: Ichimoku Clouds. Review of AUD/USD | EUR/USD: general analysis

Forex: Ichimoku Clouds. Review of AUD/USD AUD/USD, H4 Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, and they are both horizontal. Chinkou Span line has crossed the price chart from above; current cloud has reversed from ascending to descending. The pair has broken down the cloud is still falling. Tenkan-sen line (0.8880) is the closest resistance level. One of the previous minimums of Chinkou Span line is expected to be a support level at 0.8790. AUD/USD, D1 On the daily chart Tenkan-sen line is also below Kijun-sen, the blue line is directed downwards, while the red one remains horizontal. Chinkou Span line is below the price chart; current cloud is descending. After small correction the pair continues to go down. The closest resistance level is Tenkan-sen line at 0.8890. One of the previous minimums of Chinkou Span line is expected to be a support level at 0.8751. Key levels Support levels: 0.8790, 0.8751. Resistance levels: 0.8880, 0.8890. Trading tips On the four-hour chart the pair has broken down the cloud, forming a signal to sell. Daily chart confirms the continuation of the Bearish trend. Targets for the short positions are 0.8790 and 0.8751. Anastasiya Glushkova Analyst of LiteForex Group of Companies -------------------------------------------------- EUR/USD: general analysis Current trend At the closing session last week the USD significantly dropped against Euro; the pair has broken down October highs of 1.3834, however failed to consolidate above this level and rolled back to the lower boundary of the ascending channel. Today the USD may slightly strengthen amid growing number of pending home sales. The pair continues to trade in the ascending channel and has chances to rise to the level of 1.3834, where there is the upper line of “Bollinger bands”. The signal line and MACD is preparing to enter the zone of histogram, indicating that “bullish” sentiment in the market will persist. Support and resistance Support for the pair is provided at the level of 1.3698; lower limit of the channel and the middle line of “Bollinger bands” are also located near this level. The nearest resistance level is at the local highs of 1.3809. Trading tips It is recommended to open long positions with the target of 1.3834 and stop-loss at 1.3698. Kamil Avad Analyst of LiteForex Group of Companies