Forex: Ichimoku Clouds. Review of USD/CHF
Onthefour-hourchartTenkan-senline is aboveKijun-senand they are both horizontal, indicating the slowdown of the upward trend. ChinkouSpanis above the price chart; current cloud is ascending. After long rise the pair has been corrected under Tenkan-sen line, which becomes a resistance level at 0.9122. Kijun-sen line is the closest support level at 0.9052.
Let’s look at the daily chart.Tenkan-sen line is belowKijun-sen line, however the price chart has broken through both lines and consolidated above them.ChinkouSpanline hascrossed the price chart from below; current cloud is descending.Kijun-sen (0.9033) line is the closest support level. The next obstacle for the price on its way up will be the lower border of the cloud at 0.9222.
Support levels: 0.9052, 0.9033.
Resistance levels: 0.9122, 0.9222.
On thefour-hour chart we can see a small correction as apart of the upward trend. On the daily chart we’ve got a signal to buy from the cross of Chinkou Span line and the price chart. Target for the long positions is 0.9222.
Analyst of LiteForex Group of Companies