Ichimoku Cloud Analysis 23.05.2016 (GBP/USD, GOLD)

23.05.2016

Analysis for May 23rd, 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 “Golden Cross” (1); Tenkan-Sen is directed downwards. Ichimoku Cloud is heading up (2), Chinkou Lagging Span is above the chart, and the price is between Tenkan-Sen and Kijun-Sen, inside the cloud. Short-term forecast: we can expect support from Kijun-Sen and D Tenkan-Sen, and resistance from D Kijun-Sen and W Kijun-Sen.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Ichimoku Cloud is going down and widening (2), Chinkou Lagging Span is below the chart, and the price is between Tenkan-Sen and Kijun-Sen, below the cloud. Short-term forecast: after the correction and resistance from the cloud’s downside border, we can expect decline of the price.




XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1). Ichimoku Cloud is moving downwards (2), Chinkou Lagging Span is below the chart, and the price is below the lines. Short‑term forecast: we can expect support from D Senkou Spans A and B, and then an ascending correction.



 
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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.