Ichimoku Cloud Analysis 06.05.2016 (GBP/USD, GOLD)
06.05.2016
Analysis for May 6th, 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 heading down, Chinkou Lagging Span is below the chart, and the price is inside Kumo, on Tenkan-Sen. Short-term forecast: we can expect resistance from Senkou Span A, and the price to move inside the cloud towards its downside border.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are intersecting below Kumo Cloud and forming “Golden Cross” (1). Ichimoku Cloud is going down (2) and closing, Chinkou Lagging Span is on the chart, and the price is inside the cloud. Short-term forecast: we can expect resistance from Kumo’s upside border, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud and formed “Dead Cross” (1). Ichimoku Cloud is still moving upwards (2), Chinkou Lagging Span is on the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect support from Tenkan-Sen, resistance from Kijun-Sen, and attempts of the price to stay inside the cloud.
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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.