Ichimoku Cloud Analysis 24.03.2017 (GBP/USD, GOLD)

24.03.2017

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Golden Cross” (1); D Tenkan-Sen and D Kijun-Sen are very close to each other, they may intersect and form D “Golden Cross”. Ichimoku Cloud is heading up (2) and expanding; Chinkou Lagging Span is above the chart. Short-term forecast: we can expect resistance from Tenkan-Sen – D Senkou Span A, and the price to be corrected towards support from W Tenkan-Sen.

GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud and formed “Dead Cross” (1). Ichimoku Cloud is going up (2); Chinkou Lagging Span is below the chart. Short-term forecast: we can expect support from Senkou Span B, resistance from Kijun-Sen – Senkou Span A, and 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 are still influenced by “Golden Cross” (1); Tenkan-Sen and Kijun-Sen formed D “Dead Cross” (3). 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 Kijun-Sen, resistance from Tenkan-Sen, and the price to be corrected downwards to reach W Kijun-Sen.

 

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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.