Ichimoku Cloud Analysis 04.11.2016 (GBP/USD, GOLD)
04.11.2016
Analysis for November 4th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame Daily. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Golden Cross” (1). Ichimoku Cloud is heading down (2), Chinkou Lagging Span is getting closer to the chart, and the price is on W Tenkan-Sen. Short-term forecast: we can expect support from Tenkan-Sen – Senkou Span A, and attempts of the price to stay above Kumo.
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1); Tenkan-Sen is directed upwards. D Tenkan-Sen and D Kijun-Sen are influenced by D “Golden Cross” (3) as well. Ichimoku Cloud is heading up and widening (2), Chinkou Lagging Span is above the chart, and the price is on W Tenkan-Sen. Short-term forecast: we can expect the price to be corrected towards Tenkan-Sen and then continue moving upwards.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame Daily. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Golden Cross” (1). Ichimoku Cloud is moving downwards, Chinkou Lagging Span is o the chart, and the price is on W Tenkan-Sen near the cloud’s downside border. Short‑term forecast: we can expect support from W Tenkan-Sen, and growth of the price above the cloud.
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.