Analysis for November 18th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Chinkou Lagging Span is below the chart, Kumo Cloud is going down (2), and the price is below the lines. Short term forecast: we can expect a correction towards D Tenkan-Sen and Senkou Span A.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Golden Cross” below Kumo Cloud (1). Chinkou Lagging Span is on the chart, Kumo Cloud is still heading down (2), and the price is on Kijun-Sen. Short term forecast: we can expect resistance from Senkou Span A, and attempts of the price to stay above the cloud.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4: Tenkan-Sen and Kijun-Sen formed “Golden Cross” (1) inside Kumo Cloud; all lines are directed upwards. Chinkou Lagging Span is above the chart, Kumo Cloud is heading up (2), and the price is on Tenkan-Sen. Short-term forecast: we can expect support from Tenkan‑Sen, and growth of the price.
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Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.