Analysis for January 30th, 2015
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected near the cloud’s lower border and formed “Dead Cross” (1). Chinkou Lagging Span is above the chart, Ichimoku Cloud is very narrow, but continues going up (2), and the price is on Tenkan-Sen – Kijun-Sen. Short-term forecast: we can expect support from D Tenkan-Sen, resistance from Senkou Span B, and decline of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Chinkou Lagging Span is below the chart, Ichimoku Cloud is heading down (2), and the price is on Tenkan-Sen – Kijun-Sen. Short-term forecast: we can expect resistance from Senkou Span B, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Chinkou Lagging Span is below the chart, and Ichimoku Cloud is moving upwards (2). Short‑term forecast: we can expect resistance from Kijun-Sen, and decline of the price.
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Editors’ Picks
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Gold price trades with modest losses amid positive risk tone, downside seems limited
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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.