ADAUSD: Analysis using Ichimoku 10/06/2020
H4
A steady uptrend is visually clearly visible.
The price is in the Ichimoku cloud, indicating a local correction.
RSI is near the oversold level.
Conclusion:
We recommend buying when the RSI reaches the oversold level, as well as at the Fibonacci level of 61.8%
H1
The price is below the Ichimoku cloud, forming new lows for local correction of the H4 timeframe.
The RSI is near the oversold level, indicating a near end to the downward movement.
Conclusion:
We have identified local correction for H4 and recommend buying when the RSI oversold level is reached, as well as from key Fibonacci levels of 38.2% and 23.6%.
Good luck!
A steady uptrend is visually clearly visible.
The price is in the Ichimoku cloud, indicating a local correction.
RSI is near the oversold level.
Conclusion:
We recommend buying when the RSI reaches the oversold level, as well as at the Fibonacci level of 61.8%
H1
The price is below the Ichimoku cloud, forming new lows for local correction of the H4 timeframe.
The RSI is near the oversold level, indicating a near end to the downward movement.
Conclusion:
We have identified local correction for H4 and recommend buying when the RSI oversold level is reached, as well as from key Fibonacci levels of 38.2% and 23.6%.
Good luck!
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