Ichimoku Cloud Analysis 03.05.2017 (GBP/USD, GOLD)

03.05.2017

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). Ichimoku Cloud is very narrow, but still heading up (2), Chinkou Lagging Span is above the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect support from Senkou Span A – W Senkou Span A, and a further growth of the price.

GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another near Kumo’s upside border, they may intersect and form “Dead Cross” (1). Ichimoku Cloud is going up (2), Chinkou Lagging Span is on the chart, and the price is on Tenkan‑Sen and Kijun-Sen. Short-term forecast: we can expect attempts of the price to fix below the cloud.

 

XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Dead Cross” (1) again. Ichimoku Cloud is still moving downwards (2), Chinkou Lagging Span is below the chart, and the price is on Tenkan-Sen. Short‑term forecast: we can expect resistance from Tenkan-Sen, and decline of the price towards W Tenkan-Sen.

 

RoboForex Analytical Department

 

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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.