USD/CHF, H4

Let’s look at the four-hour chart. Tenkan-sen and Kijun-sen lines have almost merged above the cloud, trying to form a trend reversal pattern. Chinkou Span line has crossed the price chart from above; current Kumo-cloud is ascending. The pair is consolidating around Tenkan-sen line, the closest support level is the upper border of the cloud (0.9988). The next obstacle for the price on its way up will be one of the previous maximums of Chinkou Span line (1.0150).

Forex: Ichimoku Clouds. Review of USD/CHF

USD/CHF, D1

On the daily chart Tenkan-sen line is above Kijun-sen, however, both lines are directed upwards. Chinkou Span line is above the price chart; current Kumo-cloud is ascending. The pair continues to slowly move upwards. Tenkan-sen line is the closest support level (0.9975). The next obstacle for the price on its way up will be one of the previous maximums of Chinkou Span line (1.0186).

Forex: Ichimoku Clouds. Review of USD/CHF

Key levels

Support levels: 0.9988, 0.9975.

Resistance levels: 1.0150, 1.0186.

Trading tips

On the four-hour chart the price is trying to turn down, but on the daily chart upward trend is still strong. Short-term sell positions can be opened at current price with targets at 0.9988.




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