Analysis for May 29th, 2015
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross”. Chinkou Lagging Span is below the chart, Ichimoku Cloud is going down (2), and the price is on Tenkan-Sen. Short-term forecast: we can expect decline of the price towards D Senkou Span A.
GBPUSD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are very close to each other below Kumo Cloud (1) and still influenced by “Dead Cross”; Tenkan-Sen and Senkou Span A are directed downwards. Chinkou Lagging Span is close to the chart; Ichimoku Cloud is heading down (2). Short-term forecast: we can expect resistance from Tenkan-Sen – Kijun-Sen – Senkou Span A, and decline of the price.
XAUUSD, “Gold vs US Dollar”
XAUUSD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1). Chinkou Lagging Span is below the chart, Ichimoku Cloud is moving downwards (2), and the price is between Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect growth of the price, and resistance from W Tenkan-Sen – D Kijun-Sen – Senkou Span A.
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