Wednesday, January 26, 2011

AUD/USD | Ichimoku Technical Analysis | 26 January 2011

AUD/USD | Ichimoku Technical Analysis | 26 January 2011

AUD/USD H4 : “Gold cross” (5) formed by the Tenkan-sen and the Kijun-sen during yesterday’s trading session, prevented the market from further decline, despite all efforts of the bears. Due to yesterday’s growth the price is located near the lower limit again and the bulls will try to get inside the Kumo.
It is worth mentioning that the Chinkou Span is already in the positive area above the price graph. Given the growth of the Tenkan-sen (3) and the Senkou Span A (1), after crossing we might expect the price to advance to the upper limit of the Cloud. Read more