The pair has broken down the cloud and I still falling

December 18, 2014


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; Senkou Span A and Senkou Span B lines have almost

merged prior to the cloud reversal. The pair has broken down the cloud and I still falling.

The lower border of the cloud (1.2371) is the closest resistance level. One of the previous

minimums of Chinkou Span line is expected to be a support level (1.2259).


On the daily chart Tenkan-sen line is below Kijun-sen, both lines are horizontal. Chinkou Span

line is below the price chart, current cloud is descending. Aftre long correction the pair resumes

downward trend with target of 1.2061. The closest ressitance level is Tenkan-sen line (1.2407).

Key levels

Support levels: 1.2259, 1.2061.

Resistance levels: 1.2371, 1.2407.

Trading tips

On the four-hour chart we’ve got a strong signal to sell, and on the daily chart the pair

continues to fall. Target for the short-term sell positions is 1.2259, for long-term sales – 1.2061.

Publication source
LiteForex information  LiteForex reviews

December 9, 2016
Euro slips as ECB extends QE by 9-months
The single currency was weaker after the European Central Bank decided yesterday that it would continue with its bond purchases program. The ECB extended its QE plans from March 2017 to the end of the year...
December 9, 2016
The global stock market rally
The global stock market rally, which was underpinned by further ECB stimulus measures yesterday and a rise in oil prices, continued in Asia overnight, with most markets moving higher...
December 9, 2016
Markets throw caution to the wind
Markets have thrown caution to the wind when it comes to movements as of late as once again US equities set the scene with another stellar rise, though not as big as yesterdays...

OctaFX Rating
Tickmill Rating
HYCM Rating
Vantage FX Rating
FBS Rating Rating

TopOption Rating
OptionRally Rating
Grand Option Rating
Empire Option Rating
Anyoption Rating
EZTrader Rating