Published On: Mon, Feb 27th, 2017

Gold: Ichimoku clouds

InstaForex

27Feb

Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. The closest support level is Tenkan-sen line (1257.94). One of the previous maximums of Chikou Span line is expected to be a resistance level (1289.63). On the daily chart Tenkan-sen line is above Kijun-sen, both lines are directed upwards. 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 Tenkan-sen line (1240.13). One of the previous maximums of Chikou Span line is expected to be a resistance level (1302.04).
It is recommended to open long positions at current price with the target at the level of previous maximum of Chikou Span line (1302.04) and Stop Loss at the upper border of the cloud (1229.95).

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

!– Go to www.addthis.com/dashboard to customize your tools –>

Forex Analysis

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>