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

February 28, 2017
Markets await Trump's State of the Union speech
The currency markets are likely to stay flat ahead of President Trump's State of the Union Address to the Congress later this evening, in anticipation that the President will unveil his proposed tax reforms plans and also talk about the infrastructure spending...
February 28, 2017
Oil prices recovered back
Oil prices rebounded from the oversold zone in the Asian session. Sellers failed to regain 55.50 and gave the way to buyers. Buyers took a chance and had reversed all Friday' losses by the Monday's noon...
February 27, 2017
EURUSD dropping perfectly, remain bearish
Price is dropping nicely towards our profit target. We remain bearish below 1.0604 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a further push down to 1.0494 (Fibonacci extension, horizontal support)...

Vantage FX Rating
FXCM Rating
Orbex Rating
Larson&Holz IT Ltd Rating
FX Giants Rating
Tickmill Rating

Binary Brokerz Rating
365BinaryOption Rating
Banc De Binary Rating
Beeoptions Rating
OptionFair Rating
Binary.com Rating