Analysis for August 08th, 2014
GBPUSD, “Great Britain Pound vs US Dollar”
At H4 chart, Tenkan and Kijun are influenced by the «Dead Cross» (1), but daily Tenkan is heading down, Ichimoku cloud is going down (2). Lagging line of Chinkou indicator has come close the chart, we can expect resistance from D Tenkan and decline.
At H1 Tenkan and Kijun are moving apart via «Dead cross», Tenkan is heading up, Chinkou is located below the chart, Ichimoku cloud is going down (2). We can expect resistance from Kijun and attempts of price to hold above cloud.
XAUUSD, “Gold vs US Dollar”
Tenkan and Kijun have moved apart via «Golden cross» (1). Tenkan is moving up, Ichimoku cloud is going up as well (2), Chinkou is located above the chart. In short-term perspective, we can expect resistance from W Kijun and growth of the price within weekly Kumo.
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