USDCAD H1: The Ichimoku Forecast for the American Session on 4.12.2024
04.12.2024 15:46
Teknikal
Analysis of the market situation, developed in previous trading sessions, shows the intersection of the Tenkan and Kijun lines. Typically, this signal indicates an upcoming increase, but subsequently the price fell below the Tenkan line.
The second most important signal is a change in the direction of movement of the cloud Kumo. This signal is marked on the chart with a vertical purple line. The orange color of the cloud indicates a change in the priority direction of movement to upward.
The current situation:
Let's look at the main components of the indicator and their current values:
The price is now positioned between the Tenkan and the Kijun lines, indicating a temporary consolidation before a potential resumption of the trend.
The Kumo cloud is colored orange, indicating the market tendency to a continuing upward movement.
In addition, the price is above the Kumo cloud, which acts as a potential support zone.
The Chinkou line is now below the current price.
Trading recommendations:
Dynamic support levels are located on the Kijun line, near the 1.40539, the SenkouA line, at the 1.40423, and the SenkouB line, near the 1.40357.
The dynamic resistance level is on the Tenkan line, around the 1.40664 mark.
The indicator signals predominantly support the upward vector of movement, so the upward bounce from the defined support levels signals are prioritized intraday.
The second most important signal is a change in the direction of movement of the cloud Kumo. This signal is marked on the chart with a vertical purple line. The orange color of the cloud indicates a change in the priority direction of movement to upward.
The current situation:
Let's look at the main components of the indicator and their current values:
The price is now positioned between the Tenkan and the Kijun lines, indicating a temporary consolidation before a potential resumption of the trend.
The Kumo cloud is colored orange, indicating the market tendency to a continuing upward movement.
In addition, the price is above the Kumo cloud, which acts as a potential support zone.
The Chinkou line is now below the current price.
Trading recommendations:
Dynamic support levels are located on the Kijun line, near the 1.40539, the SenkouA line, at the 1.40423, and the SenkouB line, near the 1.40357.
The dynamic resistance level is on the Tenkan line, around the 1.40664 mark.
The indicator signals predominantly support the upward vector of movement, so the upward bounce from the defined support levels signals are prioritized intraday.