After a week off due to a temporary lack of availability during the day (short vacations with family, folks!) I am back with Ichimoku Froex Review. Here are the most interesting situation in the market today.
AUD/JPY:
Currency pair after buy signals and leaving the Kumo has tested and rejected it once again which confirms the bulls strength. In addition, at the H1 chart a pin bar formed, and the other candles have got clear, long lower shadows which confirms we are in demand. The first objective for the position will be a maximum from 22 January (92.65) and we can find second one around 93.90 level which gives a very good profit-to-risk ratio.
EUR/CAD:
A pair consolidates from a long period of time gibing signs of growth – but the breaking through still didn’t occur. Maybe a Ichimoku signal (closing the current candle above the Kumo) will give opportunity to bigger upward movement.
EUR/USD:
On Friday we saw a buy signal after breaking through the cloud (weak one because the cloud is downward). Now it will be good to wait for the Kumo re-challenge which confirms increases and gives the opportunity to put a smaller stop loss. When opening long positions, the strong resistance around 1.3700 should be remembered.
GBP/AUD:
The currency pair is in a downward trend on H4 and upward trend on D1. On H4 a pin bar formed – after bouncing from the Kijun line which gives a clear sell signal. When it comes to D1 we should be really careful, because the price has reached the cloud surroundings. Only when it overtakes the Kumo we will get a clearer fall signals.
NZD/JPY:
Price are leaving the cloud and may give sell signal. Stop loss right below the last minimum (only 25 pips) which will give a very good profit-to-risk ratio. We can search the first TP around the maximum from January 28 and it is about 120 pips. Second one can be drawn near January 15 maximum (about 270 pips) – which gives even 10:1 profit-to-risk ratio.
You want to learn more about Ichimoku trading technique? Then check out one of my webinars: https://www.youtube.com/watch?v=QOLgKH15LGw
