Analysis for May 4th, 2016
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another above Kumo Cloud, they may intersect and form “Dead Cross” (1); both lines are directed downwards. Ichimoku Cloud is heading up (2), Chinkou Lagging Span is below the chart, and the price is inside Kumo. Short-term forecast: we can expect resistance from the cloud’s upside border, and decline of the price towards support from D Kijun-Sen.
GBPUSD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud and formed “Dead Cross” (1); Kijun-Sen and Senkou Span A are directed downwards. Ichimoku Cloud is going down (2) and widening, Chinkou Lagging Span is below the chart, and the price is below the lines. Short-term forecast: we can expect resistance from Tenkan-Sen, 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 “Golden Cross” (1). Ichimoku Cloud is moving upwards (2), Chinkou Lagging Span is getting closer to the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect support from D Tenkan-Sen, and a further growth of the price.
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