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 has broken through the cloud and is still rising. The closest support level is Tenkan-sen line (16.49). One of the previous maximums of Chinkou Span line is expected to be a resistance level at 16.82.

Forex: Ichimoku Clouds. Review of XAG/USD


On the daily chart Tenkan-sen line is below Kijun-sen, both lines are horizontal. Chinkou Span line is approaching the price chart from below; current Kumo-cloud is descending. The pair is following the lower border of the cloud, and falt part of senkou Span b line is going to be a resistance level at 16.99. Kijun-sen line is the closest support level at 16.34.

Forex: Ichimoku Clouds. Review of XAG/USD

Key levels

Support levels: 16.49, 16.34.

Resistance levels: 16.82, 16.99.

Trading tips

On the four-hour chart we’ve got a signal to buy, on the daily one the pair is trying to break through the cloud. Targets for the long positions are 16.82 and 16.99.

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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