Analysis for October 7th, 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), D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3). Ichimoku Cloud is heading down and the daily cloud is closed. Chinkou Lagging Span is far below the chart. Short-term forecast: we can expect support from D Tenkan-Sen and Kijun-Sen, and a further decline of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Golden Cross” (1). Ichimoku Cloud is going up (2), Chinkou Lagging Span is below the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect support from Kijun-Sen, and attempts of the price to stay above the cloud.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1), D Tenkan-Sen and D Kijun-Sen are influenced by D “Dead Cross” (3) as well. Ichimoku Cloud is moving downwards, the daily cloud is also falling, and Chinkou Lagging Span is below the chart. Short‑term forecast: we can expect resistance from Tenkan-Sen, and decline of the price towards support from M Tenkan-Sen.
RoboForex Analytical Department