Ichimoku Cloud Analysis 10.05.2016 (GBP/USD, GOLD)
10.05.2016
Analysis for May 10th, 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 and widening (2), Chinkou Lagging Span is below the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect resistance from Kijun-Sen, and decline of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen ran one into another below Kumo Cloud (1). Ichimoku Cloud is still going down (2) and closing, Chinkou Lagging Span is on the chart, and the price is near Kumo’s downside border. Short-term forecast: we can expect support from Tenkan-Sen and 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). Ichimoku Cloud is very narrow, but still moving upwards (2), Chinkou Lagging Span is below the chart, and the price is on Senkou Span B. Short‑term forecast: we can expect support from D Kijun-Sen and resistance from Tenkan-Sen and Kijun-Sen.
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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.