Analysis for May 5th, 2016
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud formed “Dead Cross” (1). Ichimoku Cloud is closing, Chinkou Lagging Span is below the chart, and the price is inside Kumo. Short-term forecast: we can expect resistance from Tenkan-Sen, and the price to move inside the cloud towards its downside border.
GBPUSD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are intersecting below Kumo Cloud again and forming “Dead Cross” (1); all lines are directed downwards. Ichimoku Cloud is going down (2), Chinkou Lagging Span is on the chart, and the price is on Tenkan-Sen. 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 very close to each other above Kumo Cloud, they may intersect and form “Dead Cross” (1). Ichimoku Cloud is moving upwards (2), Chinkou Lagging Span is below the chart, and the price is above Kumo. Short‑term forecast: we can expect support from Senkou Span A, and attempts of the price to stay inside the cloud.
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