Ichimoku Cloud Analysis 24.11.2016 (GBP/USD, GOLD)

24.11.2016

Analysis for November 24th, 2016

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1), but the lines aren’t moving away from each other. Ichimoku Cloud is heading down, Chinkou Lagging Span is on the chart, and the price on Tenkan-Sen. Short-term forecast: we can expect resistance from Senkou Span A – D Senkou Span B, and decline of the price towards support from D Kijun-Sen.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are getting close to each other inside Kumo Cloud. Ichimoku Cloud is going down (2); Chinkou Lagging Span is above the chart. Short-term forecast: we can expect support from Kijun-Sen – Senkou Span A, 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 still influenced by “Dead Cross” (1) and D “Dead Cross” (3). Ichimoku Cloud is moving downwards, Chinkou Lagging Span is below the chart, and the price is falling inside W Kumo. Short‑term forecast: we can expect resistance from Tenkan-Sen, and a further decline of the price towards 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.