Ichimoku Cloud Analysis 04.07.2016 (GBP/USD, GOLD)
04.07.2016
Analysis for July 4th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and are formed “Dead Cross” (1) again. Ichimoku Cloud is heading down (2), Chinkou Lagging Span is on the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect resistance from Kijun-Sen, and a further decline of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Ichimoku Cloud is going down (2), Chinkou Lagging Span is on the chart, and the price is on Kijun-Sen. Short-term forecast: we can expect resistance from Senkou Span B, and a further decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are very close to each other above Kumo Cloud, but still influenced by “Golden Cross” (1); all lines except Senkou Span B are directed upwards. Ichimoku Cloud is still moving upwards (2) and widening; Chinkou Lagging Span is above the chart. Short‑term forecast: we can expect support from Tenkan-Sen, and growth of the price.
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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.