XAG/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are horizontal. Confirmative Chinkou Span line is above the price chart; current Kumo-cloud is ascending. After small correction, the pair continues to rise; support level is Tenkan sen line (16.04). One of the previous maximums of Chinkou Span line is expected to be a resistance level at 16.39.

Forex: Ichimoku Clouds. Review of XAG/USD

XAG/USD, D1

On the daily chart Tenkan-sen line is also above Kijun-sen, however, the red line is directed steeply upwards, while the blue one remains horizontal. Confirmative Chinkou Span line is above the price chart; current Kumo-cloud is ascending. The Bullish tred is still strong and the pair is moving towards the level of 17.70. The closest support level is Tenkan-sen line (15.80).

Forex: Ichimoku Clouds. Review of XAG/USD

Key levels

Support levels: 16.04, 15.80.

Resistance levels: 16.39, 17.70.

Trading tips

On the both chart the pair is trading within an upward trend. Long positions can be opened at current price with take-profits at 16.39 and 17.70. Stop-loss should be placed at 15.90.

 

 

 

 

 

 

 

 

 




The material published on this page is produced by LiteForex and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.



Follow us in social networks!
Live Chat
Leave feedback