XAUUSD H1: The Ichimoku Forecast for the American Session on 14.11.2024
14.11.2024 15:31
Technical
Analyzing previous trading sessions, it is worth paying attention to the intersection of the Tenkan and Kijun lines, marked with a pink square. The fast Tenkan line fell below the Kijun line, which usually signals a change in trend to a downward one. However, later the price rose above the Tenkan line, which indicates the weakness of the downward impulse.
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 price is currently above the Tenkan and the Kijun lines. It indicates a temporary slowdown in movement and a potential price consolidation.
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.
Used by investors to identify a change in trend, the green Chinkou line is held below the price on the chart.
Trading recommendations:
The dynamic support level is on the Tenkan line, around the 2550.935 mark.
Dynamic resistance levels are located on the Kijun line, near the 2577.715, the SenkouA line, at the 2604.788 mark, and the SenkouB line, near the 2632.435 mark.
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 price is currently above the Tenkan and the Kijun lines. It indicates a temporary slowdown in movement and a potential price consolidation.
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.
Used by investors to identify a change in trend, the green Chinkou line is held below the price on the chart.
Trading recommendations:
The dynamic support level is on the Tenkan line, around the 2550.935 mark.
Dynamic resistance levels are located on the Kijun line, near the 2577.715, the SenkouA line, at the 2604.788 mark, and the SenkouB line, near the 2632.435 mark.
The main Ichimoku system indicators prioritize searching for entry points into short positions, on a price rollback to the resistance levels.