H4
The aussie has advanced for yesterday’s trading session. By the end of the trading the rate got into the 4-hour Cloud; and today the bulls are testing the 1.0000 level near the upper limit of the Kumo – the Senkou Span B.
During this growth the Tenkan-sen and the Kijun-sen approached each other, and if the recovery continues they will form Gold cross (3).
Moreover, the Senkou Span A and the Senkou Span B are also indicating positive sentiment; they can also cross and change the character of the Cloud to the upside.
Given the Chinkou Span located above the price graph, we can suppose that today the bulls will break the Senkou Span B.
H1
On 1-hour graphs another scenario is implemented: the bears did not want to continue the decline. This resulted in the breakout of all resistance levels, formed by the indicator lines.
As a result, the price bounced off of the Senkou Span B and began to accelerate.
The Tenkan-sen and the Kijun-sen have formed Gold cross (5), supporting the bulls in the short term; the Ishimoku Cloud changed the character to the upside and initiated an uptrend in the long term.
Therefore, in the nearest future continuation of the uptrend and new local highs should be expected.
