Analysis for November 17th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen formed “Dead Cross” above Kumo Cloud (1). Chinkou Lagging Span is below the chart, Kumo Cloud is going down (2), and the price is between Tenkan-Sen and Kijun-Sen. Short term forecast: we can expect support from Tenkan-Sen, and growth of the price towards D Tenkan-Sen.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Golden Cross” below Kumo Cloud (1). Chinkou Lagging Span is below the chart, Kumo Cloud is closed (2), and the price is on Tenkan-Sen. Short term forecast: we can expect support from Kijun‑Sen, and attempts of the price to stay above the cloud.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4: Tenkan-Sen and Kijun-Sen are very close to each other above Kumo Cloud; they may intersect and form “Golden Cross” (1). Chinkou Lagging Span is above the chart, Kumo Cloud is heading up (2), and the price is above Kumo. Short-term forecast: we can expect resistance from D Kijun‑Sen and support from Senkou Span B.
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