Analysis for May 18th, 2015
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are very close to each other, but still influenced by “Golden Cross” (1). Chinkou Lagging Span is above the chart, Ichimoku Cloud is widening and continues going up (2), and the price is between Tenkan-Sen and Kijun-Sen. Short-term forecast: we can expect resistance from M Senkou Span A, support from Senkou Span A, and growth of the price.
GBPUSD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected inside Kumo Cloud and formed “Dead Cross” (1). Chinkou Lagging Span is below the chart, Ichimoku Cloud is heading down (2), and the price is on Tenkan-Sen. Short-term forecast: we can expect resistance from Tenkan-Sen, and decline of the price.
XAUUSD, “Gold vs US Dollar”
XAUUSD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Golden Cross” (1). Chinkou Lagging Span is above the chart, Ichimoku Cloud is moving upwards (2), and the price is inside W Kumo. Short‑term forecast: we can expect support from W Kijun-Sen, and growth of the price.
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