XAG/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, they are both horizontal. Chinkou Span line is above the price chart; current Kumo-cloud is ascending. The pair wasn’t able to consolidate above the cloud and returned within its borders, which became support (15.59) and resistance (15.93) levels. Another support level is Tenkan-sen line (15.79).

Forex: Ichimoku Clouds. Review of XAG/USD

XAG/USD, D1

On the daily chart Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Chinkou Span line is below the price chart; current Kumo-cloud is descending. After long fall, the pair is being corrected above Tenkan-sen line. Whivh became a support level (15.70). Kijun-sen line will be a resistance level at 16.36.

Forex: Ichimoku Clouds. Review of XAG/USD

Key levels

Support levels: 15.79, 15.70, 15.59.

Resistance levels: 15.93, 16.36.

Trading tips

On the four-hour chart the pair is trading within the cloud, although on the daily chart Bearish trend is still strong. Targets for the short positions are 15.59 and 15.15.




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