Ichimoku Cloud Analysis 18.10.2016 (GBP/USD, GOLD)
18.10.2016
Analysis for October 18th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another near Kumo’s downside border (1). Ichimoku Cloud is heading up (2), Chinkou Lagging Span is on the chart, and the price is between D Tenkan-Sen and D Kijun-Sen. Short-term forecast: we can expect resistance from D Kijun-Sen, and decline of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Golden Cross” (1). Ichimoku Cloud is going up (2), Chinkou Lagging Span is above the chart, and the price is above the lines. Short-term forecast: we can expect support from Tenkan-Sen, and growth of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are intersecting below Kumo Cloud and forming “Golden Cross” (1); Tenkan-Sen is directed upwards. D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3). Ichimoku Cloud is moving downwards; the daily cloud is also falling. Chinkou Lagging Span is on the chart; the price is between D Tenkan-Sen and D Kijun-Sen. Short‑term forecast: we can expect resistance from Senkou Span A and support from 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.