Analysis for October 20th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen formed “Golden Cross” (1) below Kumo; Tenkan-Sen and Senkou Span A are directed upwards. Chinkou Lagging Span is on the chart, Kumo Cloud is almost closed (2), and the price is on Senkou Span B. Short term forecast: we can expect attempts of the price to stay above the cloud.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Chinkou Lagging Span is above the chart, Kumo Cloud is going up (2), and the price is above the lines. Short term forecast: we can expect resistance from H4 Senkou Span B, support from Kijun-Sen, and growth of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4s: Tenkan-Sen and Kijun-Sen are still influenced by “Golden Cross” (1). Chinkou Lagging Span is above the chart, Kumo Cloud is going up (2), and the price is above the lines. Short-term forecast: we can expect resistance from D Senkou Span A, support from Senkou Span A, and growth of the price.
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