Ichimoku Cloud Analysis 12.10.2016 (GBP/USD, GOLD)

12.10.2016

Analysis for October 12th, 2016

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen formed “Golden Cross” (1); Tenkan-Sen is directed downwards. However, D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3). Ichimoku Cloud is falling (2), the daily cloud is heading down as well, and Chinkou Lagging Span is getting closer to the chart. Short-term forecast: we can expect support from Tenkan-Sen and resistance from D Kijun-Sen – Senkou Span A.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Golden Cross” (1) below Kumo Cloud; Tenkan-Sen is directed upwards. Ichimoku Cloud is closed (2), Chinkou Lagging Span is on the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short-term forecast: we can expect support from Kijun-Sen, and growth of the price.




XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen didn’t intersect; both lines are still 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. Chinkou Lagging Span is getting closer to the chart; the price is on Tenkan-Sen. Short‑term forecast: we can expect resistance from Kijun-Sen and another support from M Tenkan-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.