Ichimoku Cloud Analysis 31.05.2016 (GBP/USD, GOLD)

31.05.2016

Analysis for May 31st, 2016

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are getting closer but still influenced by “Golden Cross” (1); Kijun-Sen and Senkou Span A are directed upwards. Ichimoku Cloud is heading up (2), Chinkou Lagging Span is close to the chart, and the price is on Kijun-Sen. Short-term forecast: we can expect support from D Tenkan-Sen – Senkou Span A, and growth of the price.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Golden Cross” (1). Ichimoku Cloud is going up (2), Chinkou Lagging Span is close the chart, and the price is near the cloud’s downside border. Short-term forecast: we can expect support/resistance from the cloud’s border, and growth of the price.




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); Tenkan-Sen and Senkou Span A are directed downwards. Ichimoku Cloud is moving downwards (2) and widening, Chinkou Lagging Span is below the chart, and the price is below the lines. Short‑term forecast: we can expect resistance from Tenkan-Sen, and a further decline of the price.



 
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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.