Analysis for July 7th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Ichimoku Cloud is going up (2), Chinkou Lagging Span is close to the chart, and the price is inside Tenkan-Sen – Kijun-Sen channel. Short‑term forecast: we can expect correction towards Kumo.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Dead Cross” above Kumo (1). Ichimoku Cloud is going up (2), Chinkou Lagging Span is below the chart, and the price is inside Kumo. Short‑term forecast: we can expect resistance from Senkou Span A, and attempts of the price to stay below Kumo.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Tenkan-Sen and Kijun-Sen formed “Dead Cross” (1) above Kumo. Ichimoku Cloud is closed (2), Chinkou Lagging Span is on the chart, and the price is inside Kumo. Short-term forecast: we can expect decline of the price inside Kumo.
XAU USD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Dead Cross”; Tenkan-Sen is directed downwards. Ichimoku Cloud is closed (2), and Chinkou Lagging Span is below the chart. Short‑term forecast: we can expect resistance from Tenkan-Sen, and decline of the price.
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