Analysis for November 21st, 2014
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen formed “Golden Cross” (1) below Kumo Cloud. Chinkou Lagging Span is on the chart, Kumo Cloud is going down (2), and the price is inside a narrow channel between Tenkan-Sen and Kijun-Sen. Short term forecast: we can expect support from Kijun-Sen, and growth of the price.
GBPUSD, Time Frame H1. Tenkan-Sen and Kijun-Sen are very close to each other above Kumo Cloud; they may intersect and form “Dead Cross” (1); Tenkan-Sen and Senkou Span A are directed downwards. Chinkou Lagging Span is on the chart, Kumo Cloud is moving upwards (2), and the price is on Tenkan-Sen – Kijun-Sen. Short term forecast: we can expect decline of the price.
XAUUSD, “Gold vs US Dollar”
XAUUSD, Time Frame H4: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Chinkou Lagging Span is above the chart, and Kumo Cloud is heading up (2). Short-term forecast: we can expect support from Tenkan‑Sen – D Kijun-Sen.
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Editors’ Picks
AUD/USD could extend the recovery to 0.6500 and above
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EUR/USD now refocuses on the 200-day SMA
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Gold struggles around $2,325 despite broad US Dollar’s weakness
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Bitcoin price makes run for previous cycle highs as Morgan Stanley pushes BTC ETF exposure
Bitcoin (BTC) price strength continues to grow, three days after the fourth halving. Optimism continues to abound in the market as Bitcoiners envision a reclamation of previous cycle highs.
US versus the Eurozone: Inflation divergence causes monetary desynchronization
Historically there is a very close correlation between changes in US Treasury yields and German Bund yields. This is relevant at the current juncture, considering that the recent hawkish twist in the tone of the Federal Reserve might continue to push US long-term interest rates higher and put upward pressure on bond yields in the Eurozone.