Ichimoku Cloud Analysis 08.11.2016 (GBP/USD, GOLD)

08.11.2016

Analysis for November 8th, 2016

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); Tenkan-Sen is directed downwards. D Tenkan-Sen and D Kijun-Sen are influenced by D “Golden Cross” (3) as well. Ichimoku Cloud is heading up (2), Chinkou Lagging Span is above the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect support from Kijun-Sen and resistance from D Senkou Span B.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Golden Cross” (1) below Kumo Cloud. Ichimoku Cloud is going down (2); Chinkou Lagging Span is on the chart. Short-term forecast: we can expect support from Tenkan-Sen – Kijun-Sen, and growth of the price towards resistance from Senkou Span B.




XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Dead Cross” (1); Tenkan-Sen is directed downwards. However, D Tenkan-Sen and D Kijun-Sen are still influenced by “Golden Cross” (3). Ichimoku Cloud is moving upwards (2), but the daily cloud continues falling. Chinkou Lagging Span is on the chart. Short‑term forecast: we can expect support from the cloud’s downside border and resistance from D Senkou Span A.



 
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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.