Forex: Ichimoku Clouds. Review of XAG/USD

September 17, 2014

XAG/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from below, forming Golden Cross reversal pattern. However, upward impetus wasn’t enough, and the pair returned under red and blue lines. Chinkou Span line is still below the price chart; current Kumo-cloud is descending. The closest resistance level is Kijun-sen line (18.70). One of the previous minimums of Chinkou Span line is expected to be a support level at 18.51.

XAG/USD, D1

On the daily chart Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Chinkou Span line is below the price chart, current cloud is descending. The pair has been corrected up after long fall, the closest resistance level is still Tenkan-sen line (18.88). One of the previous minimums of Chinkou Span line is expected to be a support level at 17.45.

Key levels

Support levels:  18.51, 17.45.

Resistance levels: 18.70, 18.88.

Trading tips

On the four-hour chart the pair weren’t able to reach the cloud and returned within the Bearish trend, which is confirmed on the daily chart. Short positions can be opened at current price with targets at 18.51 and 17.45

Publication source
LiteForex information  LiteForex reviews

December 9, 2016
Coeure - ECB ready to do more
ECB board member Benoit Coeure commented the yesterday decision in a radio interview. The central bank announced QE tapering stressing that it does not mean less engagement...
December 8, 2016
Tapering and extending
The main challenge for markets today will be steering through the messages that emerge from the ECB meeting and press conference. Whereas the Fed meeting next week is seen as a near certainty in terms of its outcome, this is not the same for the ECB...
December 7, 2016
Oil ma pull back to $40
The oil price fell for the first time in 4 days today as skepticism creeped in over some OPEC member’s commitment to keep to their end of the deal and cut production...

Grand Capital Rating
EXNESS Rating
FxPro Rating
FIBO Group Rating
Vantage FX Rating
FOREX.com Rating

24option Rating
Porter Finance Rating
Anyoption Rating
OptionBit Rating
365BinaryOption Rating
Banc De Binary Rating