H4
As expected, the Australian dollar continued to recover. During yesterday’s trading session the aussie went up to the 0.0230 level, having broken the February highs.
Positive trend on 4-hour graphs is likely to remain during the next few days as the Ichimoku Cloud has a positive character and is diverging up due to the growing Senkou Span A (1). Besides, the Tenkan-sen and the Kijun-sen are keeping the Gold Cross (4) formed early in the week. At the same time, the lines are still directed up, which confirms bullish sentiment on the short-term market.
H1
On 1-hour graphs the market has a positive sentiment as well – the Ichimoku Cloud character is positive and the Senkou Span A and B (1, 2) have certain potential for growth.
Yesterday’s rebound from the Kijun-sen, as expected, caused refreshing of local highs and straightening of the indicator lines.
However, today’s Asian session started with a decline and at the moment the price is testing the Rotation line (3), which though is resisting the bearish sentiment of short-term traders.
The decline is likely to be continued and the Kijun-sen will have to play its role again. However, afterwards we should expect a rebound up and refreshing of highs.
