Analysis for May 7th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Tenkan-Sen and Kijun-Sen are close to each other and still 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 growth of the price towards M Senkou Span B.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen are close to each other, but still influenced by “Golden Cross” (1). Ichimoku Cloud is going up, and Chinkou Lagging Span is above the chart. Short‑term forecast: we can expect support from Kijun-Sen, and growth of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Tenkan-Sen and Kijun-Sen formed “Golden Cross” inside Kumo Cloud (1). Chinkou Lagging Span is above the chart. Short-term forecast: we can expect support from Tenkan-Sen, and growth of the price.
XAU USD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Golden Cross” above Kumo Cloud (1). Ichimoku Cloud is closed (2), and Chinkou Lagging Span is on the chart. Short‑term forecast: we can expect support from Senkou Spans A and B, and growth of the price.
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