Analysis for May 5th, 2014
GBPUSD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Tenkan-Sen and Kijun-Sen are close to each other, but influenced by “Golden Cross” (1). Ichimoku Cloud is going up, Chinkou Lagging Span is above the chart, and the price is above the lines. Short‑term forecast: we can expect support from between Tenkan-Sen and Kijun-Sen, and growth of the price towards M Senkou Span B.
GBPUSD, Time Frame H1. Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Ichimoku Cloud is going down, and Chinkou Lagging Span is below the chart. Short‑term forecast: we can expect support from Senkou Span A, and growth of the price.
XAUUSD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Tenkan-Sen and Kijun-Sen are close to each other below Kumo Cloud (1); all lines are directed upwards. Chinkou Lagging Span is above the chart. Short-term forecast: we can expect resistance from D Senkou Span B and support from D Kijun-Sen.
XAUUSD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Golden Cross” below Kumo Cloud (1). Ichimoku Cloud is going up (2), and Chinkou Lagging Span is above the chart. Short‑term forecast: we can expect growth of the price and attempts to stay between Tenkan-Sen and Kijun-Sen.
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Editors’ Picks
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Gold price pulls back as market sentiment improves
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Happy Apple day
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