Analysis for November 7th, 2013
GBP/USD
GBPUSD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Golden Cross” (1); Tenkan-Sen and Senkou Span A are directed upwards, other lines are horizontal. Ichimoku Cloud is going down (2), Chinkou Lagging Span is on the chart, and the price is on Senkou Spans A and B. Short‑term forecast: we can expect attempts of the price to stay above the cloud.
GBPUSD, Time Frame H1 – Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1); all lines are horizontal. Ichimoku Cloud is going up (2); Chinkou Lagging Span is above the chart, and the price is on Kijun-Sen. Short‑term forecast: we can expect support from Senkou Span A and further growth of the price.
GOLD
XAUUSD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1); Kijun-Sen and Senkou Span A are directed downwards, other lines are horizontal. Ichimoku Cloud is going up (2), Chinkou Lagging Span is below the chart, and the price is inside Tenkan-Sen – Kijun-Sen channel. Short‑term forecast: we can expect resistance from Kijun-Sen and attempts of the price to stay inside the cloud.
XAUUSD, Time Frame H1 – Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Golden Cross” (1); Tenkan-Sen is directed downwards, other lines are horizontal. Ichimoku Cloud is going up (2), Chinkou Lagging Span is above the chart, and the price is on Tenkan-Sen. Short‑term forecast: we can expect the price to move upwards.
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