Ichimoku Cloud Analysis: GBP/USD, Gold

RoboForex Team RoboForex

Analysis for October 13th, 2016

GBPUSD, "Great Britain Pound vs US Dollar"

GBPUSD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are forming "Golden Cross" (1); Tenkan-Sen is directed downwards, Kijun-Sen is moving upwards. However, D Tenkan-Sen and D Kijun-Sen are still influenced by D "Dead Cross" (3). Ichimoku Cloud is falling (2); the daily cloud is heading down as well. Short-term forecast: we can expect resistance from Tenkan-Sen – Senkou Span A, and decline of the price towards support from Kijun-Sen.

GBPUSD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected near Kumo's downside border and formed "Dead Cross" (1). Ichimoku Cloud is going down (2), Chinkou Lagging Span is below the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect resistance from Senkou Span B, and decline of the price.

XAUUSD, "Gold vs US Dollar"

XAUUSD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another below Kumo Cloud; right now they are intersecting and forming "Golden Cross" (1). D Tenkan-Sen and D Kijun-Sen are influenced by D "Dead Cross" (3). Ichimoku Cloud is moving downwards; the daily cloud is also falling. Chinkou Lagging Span is on the chart; the price is on D Tenkan-Sen. Shortâ€‘term forecast: we can expect resistance from Senkou Span A and another support from M Tenkan-Sen.

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RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

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