NZD/USD, H4

Let’s look at the four-hour chart. Tenkan-sen and Kijun-sen lines are getting closer above the cloud and can soon form a signal to sell. Chinkou Span line is above the price chart; current Kumo-cloud is ascending. The pair is trading between the red line and the blue one, which become support (0.6758) and resistance (0.6811) levels.

Forex: Ichimoku Clouds. Review of NZD/USD

NZD/USD, D1

On the daily chart Tenkan-sen line is above Kijun-sen,  the red line is directed steeply upwards, while the blue one remains horizontal. Chinkou Span line is above the price chart, current cloud is ascending. The pair is still rising towards the level of 0.6986. The support level will be Tenkan-sen line (0.6713).

Forex: Ichimoku Clouds. Review of NZD/USD

Key levels

Support levels: 0.6758, 0.6713.

Resistance levels: 0.6811, 0.6986.

Trading tips

On the four-hour chart the pair is being corrected downwards, however, on the daily chart the Bullish trend is still strong. It's a good opportunity to open long trades at current price with take-profits at 0.6986 and stop-losses at 0.6770.

 




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