NZD/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, they are both directed downwards. Chinkou Span line is below the price chart; current cloud is descending. After long fall the pais has been corrected to the level of Tenkan-sen line. The closest resistance level is Kijun-sen line (0.7388). Target for the downward impetus is still 0.7271.

Forex: Ichimoku Clouds. Review of NZD/USD

NZD/USD, D1

On the daily chart Tenkan-sen line is below Kijun-sen, they are both turned sideways. Chinkou Span line is below the price chart; current cloud has reversed from ascending to descending. The pair has broken down the cloud and is moving towards 0.7271). Tenkan-sen line is going to be a resistance level (0.7422).

Forex: Ichimoku Clouds. Review of NZD/USD

Key levels

Support levels: 0.7271.

Resistance levels: 0.7338, 0.7422.

Trading tips

On the both charts the pair is trading within a downward trend. On the daily chart we’ve got a strong signal to sell (the breakdown of the cloud). Short trades can be opened at current price with take-profits at 0.7271. 




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