Ichimoku Cloud Analysis 05.11.2015 (GBP/USD, GOLD)
05.11.2015
Analysis for November 5th, 2015
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Ichimoku Cloud is still heading up (2), Chinkou Lagging Span is above the chart, and the price is on Kijun-Sen. Short-term forecast: we can expect resistance from Tenkan-Sen, support from D Tenkan-Sen, and growth of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are very close to each other below Kumo Cloud; they may intersect and form “Golden Cross” (1). Ichimoku Cloud is very narrow, but continues going down (2), Chinkou Lagging Span is below the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect resistance from the cloud’s lower border and 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 are influenced by “Dead Cross” (1). Chinkou Lagging Span is below the chart, Ichimoku Cloud is moving downwards (2), and the price is below the lines. Short‑term forecast: we can expect resistance from Tenkan-Sen, 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.