Ichimoku Cloud Analysis 29.12.2016 (GBP/USD, GOLD)
29.12.2016
Analysis for December 29th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1) and D “Dead Cross” (3), but the lines are getting closer to each other. Ichimoku Cloud is heading down (2), Chinkou Lagging Span is below the chart, and the price is on D Senkou Span B. Short-term forecast: we can expect resistance from D Tenkan-Sen – Senkou Span A, and decline of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Golden Cross” (1); Tenkan-Sen is directed upwards. Ichimoku Cloud is going down and closing (2); Chinkou Lagging Span is on the chart. Short-term forecast: we can expect support from Kijun-Sen and Senkou Span A, and growth of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Golden Cross” (1). Ichimoku Cloud is very narrow, but still moving downwards, Chinkou Lagging Span is above the chart, and the price is inside Kumo close to its upside border. Short‑term forecast: we can expect resistance from Senkou Span B, and attempts of the price to stay above the cloud.
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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.