AUD/CHF: Ichimoku clouds

17.09.2020

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (0.6624). The closest resistance level is the lower border of the cloud (0.6680).




On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is the upper border of the cloud (0.6582). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.6740).


On the four-hour chart the instrument is trading within the cloud. On the daily chart the Bullish trend is still strong. It is not recommended to open positions at current price. Pending orders should be placed at the cloud’s borders: sell at the level of 0.6624, with Take Profit at 0.6412 and Stop Loss at 0.6680; buy at the level of 0.6680, with Take Profit at 0.6805 and Stop Loss at 0.6624.

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