XAG/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are moving towards each other. Chinkou Span line is below the price chart; current Kumo-cloud is descending. After small correction. the pair continues to move down to the level of 15.86. The closest resistance level is Tenkan-sen line (16.41).

Forex: Ichimoku Clouds. Review of XAG/USD

XAG/USD, D1

On the daily chart Tenkan-sen line is above Kijun-sen, both lines are horizontal. Chinkou Span line is following the price chart; current Kumo-cloud is descending; however its width is only 13 points. The pair has broken down the cloud, but then was stopped by Kijun-sen line at 16.34. The closest resistance level is Tenkan-sen line (16.72). The next obstacle for the price on its way down will be one of the previous minimums of Chinkou Span line at 15.50.

Forex: Ichimoku Clouds. Review of XAG/USD

Key levels

Support levels: 15.86, 15.50.

Resistance levels: 16.41, 16.72.

Trading tips

On the four-hour chart the pair continues to fall after correction, on the daily one the price is consolidating around. Pending sell orders should be placed at 16.00 with targets at 15.50. 




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