Forex: Ichimoku Clouds. Review of USD/CHF

Forex: Ichimoku Clouds. Review of USD/CHF

USD/CHF, H4

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.



USD/CHF, D1

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.



Key levels

Support levels: 0.9052, 0.9033.
Resistance levels: 0.9122, 0.9222.

Trading tips

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.

Anastasiya Glushkova
Analyst of LiteForex Group of Companies

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