Despite the correction, the pair wasnt able to break through the resistance level

January 12, 2015


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 cloud is descending. Despite the correction, the pair wasn’t able to break through the resistance level of Kijun-sen (1.1861). One of the previous minimums of Chinkou Span line is expected to be a support level (1.1745).


On the daily chart Tenkan-sen line is also below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Chinkou Span line is below the price chart, current cloud is descending. The pair resumes downward trend with target of 1.1725. The closest resistance level is Tenkan-sen line (1.1970).

Key levels

Support levels: 1.1745, 1.1725.

Resistance levels: 1.1861, 1.1970.

Trading tips

On the both charts downward trend is still strong. Targets for the sell positions are 1.1745 and 1.1725.

Publication source
LiteForex information  LiteForex reviews

January 20, 2017
The dollar has settled moderately lower
Asian stock markets were mixed overnight, after U.S. and European shares closed in the red Thursday. Japan and mainland China bourses managed to move higher (Chinese GDP beat expectations at 6.8%)...
January 20, 2017
A huge disappointment in the UK data
UK retail sales fell most since 2012. We see he fastest pace of decline in almost five years in December. It is due to sales of... pretty much everything from household goods to clothing and food...
January 20, 2017
Trump takes office today. Markets await inauguration speech
Investors await Trump's inauguration and speech due later today as he takes office as the 45th President of the United States. The U.S. dollar was seen giving up some of the gains yesterday with some volatility coming off the EURUSD on the back of the ECB meeting...

OANDA Rating
Trade360 Rating
Fort Financial Services Rating
FBS Rating
HotForex Rating
Larson&Holz IT Ltd Rating

Migesco Rating
TopOption Rating
IQ Option Rating
Banc De Binary Rating
Beeoptions Rating Rating