Analysis for October 1st, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Chinkou Lagging Span is below the chart, Kumo Cloud is heading down, and the price is below the lines. Short term forecast: we can expect resistance from Tenkan-Sen, and decline of the price towards W Kumo’s lower border.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen are very close to each other below Kumo (1); all lines are directed downwards. Chinkou Lagging Span is below the chart, Kumo Cloud is going down, and the price is on Tenkan-Sen. Short term forecast: we can expect resistance from Senkou Span A, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Tenkan-Sen and Kijun-Sen formed “Dead Cross” near Kumo’s lower border (1). Chinkou Lagging Span is below the chart, and Kumo Cloud is going down. Short-term forecast: we can expect resistance from Tenkan-Sen, and decline of the price.
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