Let’s look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from below, forming a signal to buy. Chinkou Span line is approaching the price chart from below; current Kumo-cloud is descending. The pair has overcome Kijun-sen and Tenkan-sen lines, the later becomes a support level (0.9624). The next obstacle for the price on its way up will be the lower border of the cloud (0.9766).

Forex: Ichimoku Clouds. Review of USD/CHF


On the daily chart we can see an opposite picture. Tenkan-sen line has crossed Kijun-sen from above, indicating the beginning of trend reversal. Chinkou Span line is above the price chart; current Kumo-cloud is ascending. The pair has been corrected under Tenkan-sen (0.9735) and Kijun-sen (0.9788) lines. Upper border of the cloud will be a support level at 0.9224.

Forex: Ichimoku Clouds. Review of USD/CHF

Key levels

Support levels: 0.9624, 0.9224.

Resistance levels: 0.9735, 1.9766, 1.9788.

Trading tips

On the four-hour chart we’ve got a signal to buy, while on the daily one we can see the beginning of trend reversal. Short-term buy positions can be opened at current price with targets at 0.9735.

Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.

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