Ichimoku Clouds. Review of Brent

May 8, 2015

Brent, H4

Let’s look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from above, forming trend reversal pattern “Dead Cross”. Chinkou Span line has crossed the price chart from above; current Kumo-cloud is ascending. The pair is trading around Senkou Span A (65.69) line and is trying to enter the cloud. The closest resistance level is Tenkan-sen line (66.91). The next obstacle for the price on its way down will be the lower border of the cloud at 64.02.

Brent, D1

On the daily chart Tenkan-sen line is above Kijun-sen, both lines are horizontal. Chinkou Span line is above the price chart; current Kumo-cloud is ascending. After long fall, the pair has been corrected under Tenkan-sen line, which is now a resistance level (66.94). Kijun-sen line will be a support level (61.97).

Key levels

Support levels: 64.02, 61.97.
Resistance levels: 66.91, 66.94.

Trading tips

On the four-hour chart the pair is going to enter the cloud, on the daily chart the pair is falling towards Kijun-sen line. Targets for the sell positions are around 61.97.

Analytics by LiteForex Investments Limited

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...

FIBO Group Rating
OANDA Rating
Larson&Holz IT Ltd Rating
Fort Financial Services Rating
Vantage FX Rating
Grand Capital Rating

Binary Brokerz Rating
OptionRally Rating
TropicalTrade Rating
OptionBit Rating
OptionTrade Rating
GTOptions Rating