Ichimoku Cloud Analysis 24.10.2016 (GBP/USD, GOLD)

24.10.2016

Analysis for October 24th , 2016

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Dead Cross” (1). Ichimoku Cloud is heading down (2), Chinkou Lagging Span is above the chart, and the price is on Tenkan-Sen – Kijun-Sen. Short-term forecast: we can expect resistance from D Kijun-Sen, and attempts of the price to stay below the cloud.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Golden Cross” (1). Ichimoku Cloud is going down (2); the price reached Kumo’s downside border. Short-term forecast: we can expect resistance from Senkou Span B, support from Kijun-Sen, and growth of the price above the cloud.




XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are very close to each other, but influenced by “Golden Cross” (1). D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3). Ichimoku Cloud is moving upwards (2), Chinkou Lagging Span is above the chart, and the price is between D Tenkan-Sen and D Kijun-Sen, inside Kumo. Short‑term forecast: we can expect resistance from Senkou Span B, support from Senkou Span A, and growth of the price towards D 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.