Forex: Ichimoku Clouds. Review of USD/CHF
On the four-hour chart Tenkan-sen line is above Kijun-sen, they are both horizontal. Chinkou Span line is above the price chart, current cloud is ascending. Despite all the corrections the pair is slowly rising. Tenkan-sen line is the closest support level (0.8947). One of the previous maximums of the Chinkou Span line is expected to be a resistance level at 0.9015.
Let’s look at the daily chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Chinkou Span line has crossed the price chart from below, current cloud is descending. The pair has broken through the cloud and is still growing. Tenkan-sen line becomes a support level (0.8919). One of the previous maximums of the Chinkou Span line is expected to be a resistance level at 0.9005.
Support levels: 0.8947, 0.8919.
Resistance levels: 0.9015, 0.9005.
Both charts confirm Bullish trend. Targets for the long positions are 0.9015 and 0.9005.
Analyst of LiteForex Investments Limited