Analysis for May 23rd, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Golden Cross” (1); Tenkan-Sen is directed downwards. Ichimoku Cloud is heading up (2), Chinkou Lagging Span is above the chart, and the price is between Tenkan-Sen and Kijun-Sen, inside the cloud. Short-term forecast: we can expect support from Kijun-Sen and D Tenkan-Sen, and resistance from D Kijun-Sen and W Kijun-Sen.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Ichimoku Cloud is going down and widening (2), Chinkou Lagging Span is below the chart, and the price is between Tenkan-Sen and Kijun-Sen, below the cloud. Short-term forecast: after the correction and resistance from the cloud’s downside border, we can expect 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). Ichimoku Cloud is moving downwards (2), Chinkou Lagging Span is below the chart, and the price is below the lines. Short‑term forecast: we can expect support from D Senkou Spans A and B, and then an ascending correction.
RoboForex Analytical Department