Analysis for October 29th, 2014
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen formed “Golden Cross” (1). Chinkou Lagging Span is above the chart, Kumo Cloud is going up (2), and the price is on Tenkan-Sen. Short term forecast: we can expect support from Kijun-Sen, and growth of the price.
GBPUSD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Golden Cross” (1); Tenkan-Sen is directed downwards. Chinkou Lagging Span is above the chart, and Kumo Cloud is going up (2). Short term forecast: we can expect attempts of the price to stay inside the cloud.
XAUUSD, “Gold vs US Dollar”
XAUUSD, 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 (2), and the price is near the cloud’s lower border. Short-term forecast: we can expect attempts of the price to stay below the cloud.
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