Ichimoku Cloud Analysis 24.05.2016 (GBP/USD, GOLD)
24.05.2016
Analysis for May 24th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected inside Kumo Cloud and formed “Dead Cross” (1). Ichimoku Cloud is heading up (2), Chinkou Lagging Span is above the chart, and the price is on Senkou Span B. Short-term forecast: we can expect resistance from D Kijun-Sen and W Kijun-Sen, support from D Tenkan-Sen, and growth of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Golden Cross” (1). Ichimoku Cloud is going down and getting narrower (2), Chinkou Lagging Span is on the chart, and the price is inside the cloud. Short-term forecast: after resistance from Senkou Span A and the correction towards the cloud’s downside border, we can expect growth 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 and widening (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, support from D Senkou Spans A and B, and then an ascending correction.
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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.