Ichimoku Cloud Analysis 21.11.2016 (GBP/USD, GOLD)
21.11.2016
Analysis for November 21st, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Ichimoku Cloud is heading down, Chinkou Lagging Span is below the chart, and the price is inside D Kumo. Short-term forecast: we can expect decline of the price towards support from W Tenkan-Sen – D Senkou Span A.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Dead Cross” (1) again. Ichimoku Cloud is going down (2); Chinkou Lagging Span is below the chart. Short-term forecast: we can expect resistance from Tenkan-Sen, and a further decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1); D Tenkan-Sen is directed downwards. Ichimoku Cloud is moving downwards and widening, Chinkou Lagging Span is on the chart, and the price is being corrected between Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect decline of the price towards support from W Senkou Span B.
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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.