Ichimoku Cloud Analysis 02.12.2016 (GBP/USD, GOLD)
02.12.2016
Analysis for December 2nd, 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); D Tenkan-Sen and D Kijun-Sen intersected and form D “Golden Cross” (3) as well. Ichimoku Cloud is heading up (2), Chinkou Lagging Span is above the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect support from Kijun-Sen, and growth of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are intersecting above Kumo Cloud and forming “Dead Cross” (1); all lines are directed upwards. Ichimoku Cloud is going up (2) and expanding; Chinkou Lagging Span is on the chart. Short-term forecast: we can expect support from Senkou Span A, resistance from Tenkan-Sen – Kijun-Sen, and the price to be corrected towards Senkou Span B.
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) and D “Dead Cross” (3). Ichimoku Cloud is moving downwards, the daily cloud is falling as well. Chinkou Lagging Span is below the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect resistance from W Senkou Span B, and decline of the price.
RoboForex Analytical Department
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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.