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.

 

 

 

 

 

 

 

 

 




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