Ichimoku Clouds. Review of XAU/USD

February 19, 2015

XAU/USD, H4
Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, they are both horizontal. Chinkou Span line is below the price chart; current Kumo-cloud is descending. The pair has broken through Tenkan-sen and Kijun-sen lines, the latter becomes a support level (1216.88). The next obstacle for the price on its way up will be the lower border of the cloud (1227.81).

XAU/USD, D1
On the daily chart Tenkan-sen line is also below Kijun-sen, the red line is directed steeply down down, while the blue one remains horizontal. Chinkou Span line has crossed the price chart from above; Senkou Span A and Senkou Span B lines have merged prior to the cloud reversal. The pair has bounced of the upper border of the cloud (1205.78). Tenkan-sen lineis the closest resistance (1221.52) level.

Key levels
Support levels: 1216.88, 1205.78.
Resistance levels: 1221.52, 1227.81.

Trading tips
On the four-hour chart we can see the beginning of trend reversal, on the daily on the pair has bounced of support level of Senkou Span A line. Short-term buy orders can be opened at current price with targets at 1221.52 and 1227.81.

Publication source
LiteForex information  LiteForex reviews

February 20, 2017
What is the next target for the UK?
The dramatical event looms large for Pound, which can sweep the British currency off its feet – the official exit from the EU. The Prime Minister Theresa May said that the process can be initiated as close as possible to the EU summit in Brussels, scheduled to take place on 9-10 March...
February 20, 2017
Gold remained around its recent peaks
Despite the overall positive outlook the yellow metal seems to be having problems with its further advance. Inability to move higher may return some selling pressure to markets. Sellers’ profit targets lie at 1230 and 1220 levels...
February 17, 2017
NZD looks to weaken
The New Zealand dollar has found itself under pressure in recent days as the market has started to hedge a little while it waits on the next steps for the US economy...

OctaFX Rating
Larson&Holz IT Ltd Rating
FXCM Rating
Fort Financial Services Rating
Cms Trader Rating
Tickmill Rating

Empire Option Rating
TopOption Rating
Beeoptions Rating
OptionTrade Rating
TropicalTrade Rating
OptionFair Rating