Ichimoku Cloud Analysis 08.07.2016 (GBP/USD, GOLD)

08.07.2016

Analysis for July 8th, 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 “Dead Cross” (1). Ichimoku Cloud is heading down (2), Chinkou Lagging Span is below the chart, and the price is below the lines. Short-term forecast: we can expect resistance from D Tenkan-Sen, and decline of the price.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1), but Tenkan-Sen is directed upwards. Ichimoku Cloud is closed (2), Chinkou Lagging Span is below the chart, and the price is below the lines. Short-term forecast: we can expect resistance from Tenkan-Sen – Senkou Span B, 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 “Golden Cross” (1). Ichimoku Cloud is moving upwards (2) and widening, Chinkou Lagging Span is above the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect support from D Tenkan-Sen – Kijun-Sen – Senkou Span A, and a further 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.