AUD/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the blue line is horizontal, while the red one is directed upwards. Confirmative Chinkou Span line is above the price chart, current Kumo-cloud is ascending. After long rise the pair is being corrected under Tenkan-sen line, which becomes a resistance level (0.7194). The closest support level is Kijun-sen line (0.7118).

Forex: Ichimoku Clouds. Review of AUD/USD

AUD/USD, D1

On the daily chart Tenkan-sen line is below Kijun-sen, they are both horizontal. Confirmative Chinkou Span line has crossed the price chart from below; current cloud is descending. The pair has overcome resistance levels of Tenkan-sen and Kijun-sen and is trading along the lower border of the cloud. The next target for the price on its way up will be the upper border of the cloud (0.7323). The closest support level is Kijun-sen line (0.7093).

Forex: Ichimoku Clouds. Review of AUD/USD

Key levels

Support levels: 0.7118, 0.7093.

Resistance levels: 0.7194, 0.7323.

Trading tips

On the four-hour chart the pair has slowed down its upward movement, on the daily one the price chart is trying to enter the cloud. Pending buy positions should be placed at 0.7215 with targets at 0.7323 and stop-loss at 0.7150.

 

 

 

 




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