Ichimoku Cloud Analysis 29.07.2016 (GBP/USD, GOLD)
29.07.2016
Analysis for July 29th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are intersecting and forming “Golden Cross” (1). Ichimoku Cloud is heading down (2), Chinkou Lagging Span is on the chart, and the price is on Kijun-Sen. Short-term forecast: we can expect resistance from D Tenkan-Sen and support from D Kijun-Sen.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Ichimoku Cloud is going up (2), Chinkou Lagging Span is on the chart, and the price is near the cloud’s downside border. Short-term forecast: we can expect support from Senkou Span B, resistance from Tenkan-Sen, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected near Kumo’s downside border and formed “Golden Cross” (1); Tenkan-Sen and Senkou Span A are directed upwards. Ichimoku Cloud is moving upwards (2), Chinkou Lagging Span is above the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect support from D Tenkan-Sen – Kijun-Sen, and attempts of the price to stay above the cloud.
RoboForex Analytical Department
Attention!
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.