Ichimoku Cloud Analysis 07.04.2016 (GBP/USD, GOLD)
07.04.2016
Analysis for April 7th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1); Kijun-Sen is 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 W Tenkan-Sen.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected under Kumo Cloud and formed “Golden Cross” (1). Ichimoku Cloud is very narrow, but still going down (2), Chinkou Lagging Span is on the chart, and the price is below the lines. Short-term forecast: we can expect resistance from the cloud’s lower border, and then attempts of the price to stay above it.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Golden Cross” (1). Chinkou Lagging Span is on the chart, Ichimoku Cloud is closed (2), and the price is inside Kumo. Short‑term forecast: we can expect resistance from the cloud’s upper border, support from Tenkan-Sen – Senkou Span A, and growth of the price towards D Kijun-Sen.
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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.