Ichimoku Cloud Analysis 07.01.2016 (GBP/USD, GOLD)
07.01.2016
Analysis for January 7th, 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 again and formed “Dead Cross” (1); all lines are directed downwards. Ichimoku Cloud is heading down (2), Chinkou Lagging Span is below the chart, and the price is below the lines. Short-term forecast: we can expect decline of the price and then a correction towards resistance provided by Tenkan-Sen.
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1); both lines are directed downwards. Ichimoku Cloud is going down (2); Chinkou Lagging Span is below the chart. Short-term forecast: we can expect resistance from Tenkan-Sen, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame Daily. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Golden Cross” (1); all lines except Senkou Span B are directed upwards. Chinkou Lagging Span is above the chart, Ichimoku Cloud is moving upwards (2), and the price is inside Kumo. Short‑term forecast: we can expect support from Tenkan-Sen – W Tenkan-Sen, and the price to move inside the cloud.
RoboForex Analytical Department
Attention!
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.