Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, they are both horizontal. Chinkou Span line is following the price chart; current Kumo-cloud is ascending. The pair has broken down support levels of Tenkan-sen and Kijun-sen and is trading around the upper border of the cloud. The closest resistance level is the blue line (0.6544); the strong support level will be the flat Kumo bottom (0.6517).

Forex: Ichimoku Clouds. Review of NZD/USD


On the daily chart Tenkan-sen line is below Kijun-sen, both lines are also horizontal. Chinkou Span line is below the price chart, current cloud is going to reverse from ascending to descending. The pair is trading at the lower border of the cloud, within a narrow channel (0.6517-0.6566).

Forex: Ichimoku Clouds. Review of NZD/USD

Key levels

Support levels: 0.6517.

Resistance levels: 0.6544, 0.6566.

Trading tips

On the both charts we’re going to have a signal to sell, as soon as the price breaks down the level of 0.6517. The target for the Bears will be around 0.6440. Stop-loss should be placed at 0.6520. 

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