Analysis for May 2nd, 2016
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Golden Cross” (1); Kijun-Sen and Senkou Span A are directed upwards. Ichimoku Cloud is heading up and widening (2); Chinkou Lagging Span is above the chart. Short-term forecast: we can expect resistance from Tenkan-Sen and a descending correction towards the cloud’s upside border.
GBPUSD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Ichimoku Cloud is going up (2), Chinkou Lagging Span is on the chart, and the price is above Kumo. Short-term forecast: we can expect support from the cloud, and growth of the price.
XAUUSD, “Gold vs US Dollar”
XAUUSD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Ichimoku Cloud is moving upwards and widening (2); Chinkou Lagging Span is far above the chart. Short‑term forecast: we can expect support from Tenkan-Sen, and a further growth of the price.
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