Ichimoku Cloud Analysis 29.06.2016 (GBP/USD, GOLD)
29.06.2016
Analysis for June 29th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected under Kumo Cloud and formed “Dead Cross” (1), but Tenkan-Sen and Senkou Span A are directed upwards. Ichimoku Cloud is heading down (2), Chinkou Lagging Span is below the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short-term forecast: we can expect support from Tenkan-Sen, resistance from Kijun-Sen, and a further decline of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another inside Kumo Cloud (1). Ichimoku Cloud is going up (2), Chinkou Lagging Span is on the chart, and the price is inside Kumo, on Tenkan-Sen and Kijun-Sen. Short-term forecast: we can expect support from the cloud’s downside border, and attempts of the price to stay above it.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1); Tenkan-Sen is directed downwards. Ichimoku Cloud is moving upwards (2); Chinkou Lagging Span is above the chart. Short‑term forecast: we can expect support from Tenkan-Sen, and the price to return to support from D Tenkan-Sen and the cloud’s borders.
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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.