25 November, 2013
On the four-hour chart Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one is moving sideways. Chinkou Span line is above the price chart; current cloud is ascending. The closest support level is Tenkan-sen line at 1.0544. One of the previous maximums of Chinkou Span line is expected to be a resistance level at 1.0670.
At the daily chart we can see the same situation. Tenkan-sen line is above Kijun-sen, they are both horizontal. Chinkou Span line is above the price chart; current cloud is ascending. The closest support level is Tenkan-sen line at 1.0495. One of the previous maximums of Chinkou Span line is expected to be a resistance level at 1.0640.
Support levels: 1.0544, 1.0495.
Resistance levels: 1.0640, 1.0670.
On the both charts Ichimoku lines indicate the continuation of the upward movement. The targets for the long positions are 1.0640 and 1.0670.
Analyst of LiteForex Group of Companies
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