Ichimoku Cloud Analysis 01.06.2016 (GBP/USD, GOLD)
01.06.2016
Analysis for June 1st, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud and formed “Dead Cross” (1); both lines are directed downwards and still very close to each other. Ichimoku Cloud is closed (2), Chinkou Lagging Span is below the chart, and the price is near D Kumo’s upside border. Short-term forecast: we can expect support from D Senkou Span A and resistance from W Kijun-Sen.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected near Kumo’s upside border and formed “Dead Cross” (1). Ichimoku Cloud is going up (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 decline 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); Kijun-Sen and Senkou Span A are directed downwards. Ichimoku Cloud is moving downwards (2) and widening, Chinkou Lagging Span is getting closer to the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect support from Tenkan-Sen, resistance from Kijun-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.