Analysis for November 18th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Chinkou Lagging Span is below the chart, Kumo Cloud is going down (2), and the price is below the lines. Short term forecast: we can expect a correction towards D Tenkan-Sen and Senkou Span A.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Golden Cross” below Kumo Cloud (1). Chinkou Lagging Span is on the chart, Kumo Cloud is still heading down (2), and the price is on Kijun-Sen. Short term forecast: we can expect resistance from Senkou Span A, 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 formed “Golden Cross” (1) inside Kumo Cloud; all lines are directed upwards. Chinkou Lagging Span is above the chart, Kumo Cloud is heading up (2), and the price is on Tenkan-Sen. Short-term forecast: we can expect support from Tenkan‑Sen, and growth of the price.
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Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
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Week ahead – US GDP and BoJ decision on top of next week’s agenda
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