XLM Price Action Analysis
The trading crowd seems to be pumped up by all the hype and XLM price has broken above the daily Ichimoku cloud both as traded versus the US dollar, as well as Bitcoin.
Looking at the XLM/USD daily chart, the pair confirmed the break above the cloud on Wednesday and spent Thursday pulling back as the Ichimoku strategy normally pans out. The future cloud is bullish and all five of Ichimoku moving averages are moving up. The Chiko span has yet to cross above the cloud, indicating we could still see some consolidation before the pair reaches the key resistance levels of 12 and 15 cents respectively. With that, some traders may consider the upper band of the Ichimoku cloud a buying opportunity.
BEST BROKERS TO TRADE CRYPTO
HIGH RISK Investment Trading forex (also known as foreign exchange or currencies) on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, risk appetite, and the amount of your expendable income. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should ONLY invest money that you can afford to lose! You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Forex Diva Trading Opinions Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and education, and does not constitute advice. Forex Diva will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.