Ichimoku Cloud Analysis: GBP/USD, Gold
|Analysis for October 17th, 2016
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Dead Cross” (1); D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3). Ichimoku Cloud is heading up (2); the daily cloud continues falling. Short-term forecast: we can expect resistance from Kijun-Sen – Senkou Span B, and decline of the price below the cloud.
GBPUSD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected near Kumo’s upside border and formed “Dead Cross” (1). Ichimoku Cloud is going down (2), Chinkou Lagging Span is below 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 intersecting below Kumo Cloud and forming “Dead Cross” (1) again. D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3). Ichimoku Cloud is moving downwards; the daily cloud is also falling. Chinkou Lagging Span is below the chart; the price is on Tenkan-Sen – Kijun-Sen. Short‑term forecast: we can expect resistance from Senkou Span A and decline of the price towards support from M Tenkan-Sen.
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