H4
Yesterday the Aussi was kept above a 1.0570 level on strong support of 4-hour the Tenkan-sen and the Kijun-sen of the Ichimoku indicator.
As a result, bears were forced to give up plans concerning lowering the currency pair to the bottom of the Ishimoku cloud.
Today the prices have turned upwards and bounced off the Kijun-sen (4) which formed a golden cross (5) together with the Tenkan-sen (3).
As the Chinkou Span A (1) also turned upwards and started enhancing the bullish cloud up, the market is apparently developing bullishness.
Moreover, the Chinkou Span crosses the price chart in an upward direction which will support traders at today’s session.
H1
In 1-hour charts the trend is still unclear. A narrow victory was floating between bulls that pushed the Aussi above the Ishimoku Cloud and bears that tried to push the rate below it.
This flat resulted in horizontal movement of all lines of the Ichimoku Indicator.
Today the market has been more positive though, allowing the prices to regain their position above the cloud. However, the Senkou Span A and B intercrossed and inverted a Kumo trend for bullishness.
The Chinkou Span also climbed higher the price chart. It will provide additional support for traders speculating on a bull market.
After all, the Tenkan-sen and Kijun-sen (3, 4) managed to form a dead cross (5) which may influence a short-term trend. Therefore, we can expect a downward movement of the price to the Kijun-sen (4) in the short run. The upward movement may be restored afterwards.
