Analysis for August 19th, 2014
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD, Time Frame H4. Tenkan-Sen and Kijun-Sen are very close to each other below Kumo and still influenced by “Dead Cross”; all lines are directed downwards. Ichimoku Cloud is still going down, Chinkou Lagging Span is below the chart, and the price rebounded from the resistance from D Tenkan-Sen downwards. Short‑term forecast: we can expect decline of the price and attempts of a correction inside Kumo.
GBPUSD, Time Frame H1. Tenkan-Sen and Kijun-Sen, as well as Senkou Spans A and B, are very close to each other below Kumo (1); all lines are directed downwards. Ichimoku Cloud is closed (2), and Chinkou Lagging Span is below the chart. Short‑term forecast: we can expect an ascending correction, although considering such impulse, the price is unlikely to be able form “return of the price to the cloud’s border after breaking it” pattern.
XAUUSD, “Gold vs US Dollar”
XAUUSD, Time Frame H4. Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1). Ichimoku Cloud is closed (2), Chinkou Lagging Span is below the chart, and the price is near Kumo’s lower border. Short-term forecast: we can expect a steady resistance from D Kijun-Sen and H4 Senkou Span B, and the movement of the price inside D Kumo towards its lower border.
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