AUD/USD has broken through Tenkan-sen and Kijun-sen lines and is going to enter the cloud

February 5, 2015

AUD/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are horizontal. Chinkou Span line has crossed the price chart from below, giving an additional signal to buy. Current cloud remains descending. The pair has broken through Tenkan-sen and Kijun-sen lines and is going to enter the cloud. The closest support level is Tenkan-sen line (07791). Lower border of the cloud is a resistance level at 0.7841.

AUD/USD, D1

On the daily chart Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Chinkou Span line is below the price chart, current cloud is descending. Resistance levels are Tenkan-sen (0.7824) and Kijun-sen (0.7959) lines. One of the previous minimums of Chinkou Span line is expected to be a support level at 0.7590.

Key levels

Support levels: 0.7791, 0.7590.

Resistance levels: 0.7824, 0.7841, 0.7959.

Trading tips

On the four-hour chart we can see a trend reversal, although daily chart shows only a correction. First target for the long positions is 0.7841, the next one will be 0.7959.

Anastasiya Glushkova
Analyst of LiteForex Investments Limited

Publication source
LiteForex information  LiteForex reviews

September 30, 2016
The OPEC greases the wheels for oil
The global equities rally led by the gains in the energy sector after the OPEC members cut a deal in Algiers, despite the market scepticism and repeated statements that the Oil officials in Iran and Saudi Arabia are not able to find a middle ground in the current conditions...
September 30, 2016
Opec deal no certainty
In a huge surprise to the market, members of the Opec cartel agreed to cut production by as much as 700,000 barrels a day with some predicting that this may be the start of a new upward trend for oil...
September 30, 2016
Brent futures consolidated their gains
Brent rose in the European session after a surprised OPEC decision to cut oil output. Moreover, a draw in U.S. crude stocks gave an additional support for oil prices...

FIBO Group Rating
OANDA Rating
XM Rating
OctaFX Rating
Orbex Rating
Grand Capital Rating

Beeoptions Rating
TopOption Rating
EZTrader Rating
24option Rating
TropicalTrade Rating
Porter Finance Rating