Analysis for August 28th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Tenkan-Sen and Kijun-Sen are very close to each other below Kumo; they may intersect and form “Golden Cross”. Ichimoku Cloud is going down, Chinkou Lagging Span is on the chart, and the price is above Tenkan-Sen – Kijun-Sen, below Kumo. Short‑term forecast: we can expect support from Tenkan-Sen – Kijun-Sen, and attempts of the price to stay inside the cloud.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Golden Cross” below Kumo (1). Ichimoku Cloud is going up (2), and Chinkou Lagging Span is above the chart. Short‑term forecast: we can expect resistance from H4 Senkou Span A, support from Senkou Span B, and growth of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Tenkan-Sen and Kijun-Sen formed “Golden Cross” below Kumo (1); all lines except Senkou Span B are moving upwards. Ichimoku Cloud is going down (2), Chinkou Lagging Span is above the chart, and the price is on D Senkou Span B, near Kumo’s lower border. Short-term forecast: we can expect support from Tenkan-Sen – D Tenkan-Sen – Senkou Span A, and attempts of the price to stay above the cloud.
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