Ichimoku Cloud Analysis 09.05.2016 (GBP/USD, GOLD)
08.05.2016
Analysis for May 9th, 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, Chinkou Lagging Span is below the chart, and the price reached Kumo’s downside border. Short-term forecast: we can expect support from Senkou Span B, resistance from Tenkan-Sen, and attempts of the price to stay inside the cloud.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen ran one into another below Kumo Cloud (1). Ichimoku Cloud is closed (2) and closing, Chinkou Lagging Span is below the chart, and the price is below the lines. Short-term forecast: we can expect decline of the price, and then a new ascending correction towards the cloud’s downside border.
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 on Kijun-Sen. Short‑term forecast: we can expect support from Tenkan-Sen, growth of the price, and then attempts 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.