Let’s look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from above, indicating new wave of the downward movement. Chinkou Span line is below the price chart; current Kumo-cloud is descending. The pair has broken down the cloud and is still falling. Tenkan-sen line is the closest resistance level (0.9816). The next obstacle for the price on its way down will be one of the previous minimums of Chinkou Span line (0.9725).

Forex: Ichimoku Clouds. Review of USD/CHF


On the daily chart Tenkan-sen line is above Kijun-sen, both lines are horizontal. Chinkou Span line is above the price chart; current Kumo-cloud is ascending. The pair is being corrected after a long rise. Tenkan-sen (0.9873) and Kijun-sen (0.9720) lines have become resistance and support levels respectively.

Forex: Ichimoku Clouds. Review of USD/CHF

Key levels

Support levels: 0.9725, 0.9720.

Resistance levels: 0.9816, 1.9873.

Trading tips

On the four-hour chart the trend has reversed downwards and we’ve got a signal to sell. On the daily chart we can see a correction of the upward movement. Short-term sell positions can be opened at current price with targets at 0.9720.

The material published on this page is produced by LiteForex and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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