USDCAD H1: The Ichimoku Forecast for the Asian Session on 12.12.2024
12.12.2024 00:16
Teknikal
The key moment of previous trading sessions was the intersection of the Tenkan and Kijun lines. This signal is marked on the chart with a pink square and indicates a change in the trend to a downward one. However, subsequently the price was noted to have risen above the Tenkan line, indicating weakness in the downward momentum.
The second most important signal is the change in direction of the Kumo cloud, marked with a vertical purple line. A change in the color of the cloud to lilac indicates a transition of the priority direction of movement to downward.
The current situation:
Let's look at the main components of the indicator and their current values:
The price is above the Tenkan and the Kijun lines. It may indicate an upcoming shift in market direction.
The Kumo cloud is colored lilac. It indicates the priority of the downward vector of price movement.
The price is inside the Kumo cloud, which indicates a market uncertainty phase. The SenkouA and SenkouB lines act as support and resistance.
The Chinkou line is now below the current price.
Trading recommendations:
Dynamic support levels are on the Tenkan and SenkouB lines, around the 1.41434.
Dynamic resistance levels are located on the Kijun line, near the 1.41561 mark and the SenkouA line, at the 1.41655 level.
The indicator signals support a downward vector of price movement, so the search for the short positions entry points should be prioritized.
The second most important signal is the change in direction of the Kumo cloud, marked with a vertical purple line. A change in the color of the cloud to lilac indicates a transition of the priority direction of movement to downward.
The current situation:
Let's look at the main components of the indicator and their current values:
The price is above the Tenkan and the Kijun lines. It may indicate an upcoming shift in market direction.
The Kumo cloud is colored lilac. It indicates the priority of the downward vector of price movement.
The price is inside the Kumo cloud, which indicates a market uncertainty phase. The SenkouA and SenkouB lines act as support and resistance.
The Chinkou line is now below the current price.
Trading recommendations:
Dynamic support levels are on the Tenkan and SenkouB lines, around the 1.41434.
Dynamic resistance levels are located on the Kijun line, near the 1.41561 mark and the SenkouA line, at the 1.41655 level.
The indicator signals support a downward vector of price movement, so the search for the short positions entry points should be prioritized.