Ichimoku Cloud Analysis 20.10.2016 (GBP/USD, GOLD)
20.10.2016
Analysis for October 20th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Golden Cross” inside Kumo Cloud (1). Ichimoku Cloud is heading up (2) and getting wider, Chinkou Lagging Span is above the chart, and the price is on Senkou Span B. Short-term forecast: we can expect support from Kijun-Sen, and growth of the price above the cloud.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud and formed “Dead Cross” (1); both lines are directed downwards. Ichimoku Cloud is going down (2); the price is inside Kumo. Short-term forecast: we can expect resistance from Senkou Span A, and decline of the price.
XAU USD, “Gold vs US Dollar”
RoboForex Analytical Department
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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.