USDCAD H1: The Ichimoku Forecast for the American Session on 21.11.2024
21.11.2024 15:46
Teknikal
During previous trading sessions, the intersection of the Tenkan and Kijun lines, marked with a pink square, was observed on the USDCAD chart. This signal indicates a potential change in the downward trend.
The second important signal is a change in the color of the Kumo cloud, which is marked with a vertical purple line on the graph . The appearance of a lilac color in the cloud indicates a change in the priority direction of movement to downward.
The current situation:
Let's carefully look at the current values of the main components of the Ichimoku indicator to assess the current state of the market:
The Tenkan and the Kijun lines are positioned above the current price. It indicates a negative market sentiment in the moment.
Now the Kumo cloud is tinted lilac, which indicates a possible change in price dynamics in a negative direction.
In the current market profile, the price has fixed below the Kumo cloud. The boundaries of the cloud form a dynamic resistance zone for the price.
The Chinkou line, which displays the closing price with a lag of 26 periods, is above the current price.
Trading recommendations:
Dynamic resistance levels are on the Tenkan line, in the area of the 1.39657, the Kijun line, near the 1.39838, the SenkouA line, at the level of 1.39828, and the SenkouB line, around 1.40259.
The main Ichimoku system indicators prioritize searching for entry points into short positions, on a price rollback to the resistance levels.
The second important signal is a change in the color of the Kumo cloud, which is marked with a vertical purple line on the graph . The appearance of a lilac color in the cloud indicates a change in the priority direction of movement to downward.
The current situation:
Let's carefully look at the current values of the main components of the Ichimoku indicator to assess the current state of the market:
The Tenkan and the Kijun lines are positioned above the current price. It indicates a negative market sentiment in the moment.
Now the Kumo cloud is tinted lilac, which indicates a possible change in price dynamics in a negative direction.
In the current market profile, the price has fixed below the Kumo cloud. The boundaries of the cloud form a dynamic resistance zone for the price.
The Chinkou line, which displays the closing price with a lag of 26 periods, is above the current price.
Trading recommendations:
Dynamic resistance levels are on the Tenkan line, in the area of the 1.39657, the Kijun line, near the 1.39838, the SenkouA line, at the level of 1.39828, and the SenkouB line, around 1.40259.
The main Ichimoku system indicators prioritize searching for entry points into short positions, on a price rollback to the resistance levels.