NZD/USD, H4

Let’s look at the four-hour chart. Tenkan-sen and Kijun-sen lines have merged and can soon form a signal to buy. Confirmative Chinkou Span line has crossed the price chart from below; current Kumo-cloud is descending. The pair has entered the cloud, borders of which have become support (0.6555) and resistance (0.6614) levels.

Forex: Ichimoku Clouds. Review of NZD/USD

NZD/USD, D1

On the daily chart Tenkan-sen line is below Kijun-sen, they are both directed downwards. Confirmative Chinkou Span line is below the price chart and current cloud is still descending. The pair is being corrected to the level of 0.6619. The closest support level is Tenkan-sen line (0.6570).

Forex: Ichimoku Clouds. Review of NZD/USD

 

Key levels

Support levels: 0.6555, 0.6570.

Resistance levels: 0.6614, 0.6619.

Trading tips

On the four-hour chart we’ll get strong signal to buy as soon as the price breaks through the cloud. On the daily chart the trend starts to reverse. Pending buy orders can be placed at 0.6630 with target at 0.6700 and stop-loss at 0.6555.

 

 




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