Forex: Ichimoku Clouds. Review of XAU/USD on 25.06.2015

June 25, 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 down the cloud, then slowed down its fall and been corrected above the red line, which is now a support level (1174.70). The closest resistance level is Kijun-sen line (1186.81).

XAU/USD, D1

On the daily chart Tenkan-sen and Kijun-sen lines are getting closer and can soon form a signal of trend reversal. However, the confirming Chinkou Span line is still below the price chart and current cloud is still descending. The pair has left the cloud, and is moving towards the level of 1149.00. The lower border of the cloud will be a resistance level (1187.43).

Key levels

Support levels: 1174.70, 1149.00.

Resistance levels: 1186.81, 1187.43.

Trading tips

On the both charts the pair has slowed down its fall, however, Bearish trend can get new impetus. Pending sell orders can be placed at 1174.00 with targets at 1149.00 and stop-loss at 1180.00.

Publication source
LiteForex information  LiteForex reviews

January 18, 2017
Trump kicks the Dollar down
Trump hinted in his interview to the Financial Times that the US Dollar went for a far too extensive rally and the enthusiasm surrounding the bulls needs to be cooled...
January 18, 2017
Fed speakers, BoC and UK employment
We are going to see some central bank action (Canada) and hear from some Fed members and the chairwoman today. Apart from that we will get more information on the UK labor market and a data package from the US, including CPI for December and industrial output...
January 18, 2017
Aussie dollar cracks major levels
The Australian dollar swung heavily today as US bulls finally looked to sell off in the wake of economic uncertainty around the United Kingdom...

XTB Rating
Orbex Rating
EXNESS Rating
FBS Rating
Tickmill Rating
FIBO Group Rating

Empire Option Rating
Porter Finance Rating
Beeoptions Rating
TopOption Rating
OptionsXO Rating
OptionFair Rating