Ichimoku Cloud Analysis 16.05.2016 (GBP/USD, GOLD)
16.05.2016
Analysis for May 16th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Dead Cross” (1); all lines are directed downwards. 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 Tenkan-Sen, and decline of the price towards D Kumo.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1). Ichimoku Cloud is going down and widening (2); Chinkou Lagging Span is getting closer to the chart. Short-term forecast: we can expect resistance from Tenkan-Sen, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Golden Cross” (1). Ichimoku Cloud is moving downwards and getting narrower, Chinkou Lagging Span is on the chart, and the price is close to the cloud’s upside border. Short‑term forecast: we can expect support from D Tenkan-Sen, and 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.