Analysis for October 30th, 2014
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen are very close to each other above Kumo Cloud; they may intersect and form “Dead Cross” (1). Chinkou Lagging Span is above the chart, Kumo Cloud is going up (2) and squeezing, and the price is below the lines. Short term forecast: we can expect resistance from Senkou Span B.
GBPUSD, Time Frame H1. Tenkan-Sen and Kijun-Sen are very close to each other below Kumo Cloud (1). Chinkou Lagging Span is below the chart, and Kumo Cloud is going down (2). Short term forecast: after completing a correction, we can expect the price to continue falling.
XAUUSD, “Gold vs US Dollar”
XAUUSD, Time Frame H4: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1); Tenkan-Sen and Senkou Span A are directed downwards. Chinkou Lagging Span is below the chart, Kumo Cloud is heading down (2), and the price is below the lines. Short-term forecast: we can expect resistance from Tenkan-Sen, and decline of the price.
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