Ichimoku Cloud Analysis 31.08.2016 (GBP/USD, GOLD)

31.08.2016

Analysis for August 31st, 2016

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Ichimoku Cloud is very narrow (2), but continues heading up, Chinkou Lagging Span is below the chart, and the price is close to the cloud’s upside border. Short-term forecast: we can expect support from Tenkan-Sen, resistance from Kijun-Sen – D Senkou Span A, and decline of the price.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another inside Kumo Cloud, they may intersect and form “Golden Cross” (1). Ichimoku Cloud is closed (2), Chinkou Lagging Span is above the chart, and the price is inside Kumo Short-term forecast: we can expect attempts of the price to fix above the cloud.




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 resistance from Tenkan-Sen, and a further decline of the price inside D Kumo.



 
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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.