Analysis for October 17th, 2014
GBPUSD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen are getting close to each other, but still influenced by “Dead Cross” (1). Chinkou Lagging Span is below the chart, Kumo Cloud is heading down (2), and the price is above Tenkan-Sen – Kijun-Sen, below Kumo. Short term forecast: we can expect resistance from Senkou Span B and support from M Kijun-Sen, and then attempts of the price to stay above the cloud.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Golden Cross” (1) inside Kumo; Tenkan-Sen and Senkou Span A are directed upwards. Chinkou Lagging Span is above the chart, Kumo Cloud is going up (2), and the price is above the lines. Short term forecast: we can expect support from Tenkan-Sen, and growth of the price towards H4 Senkou Span A.
XAUUSD, “Gold vs US Dollar”
XAU USD, Time Frame H4s: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Chinkou Lagging Span is above the chart, Kumo Cloud is going up (2), and the price is above the lines. Short-term forecast: we can expect support from D Tenkan-Sen.
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