Ichimoku Cloud Analysis 01.07.2016 (GBP/USD, GOLD)

01.07.2016

Analysis for July 1st, 2016

GBP USD, “Great Britain Pound vs US Dollar”


GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are getting closer to each other, but still  influenced by “Dead Cross” (1); Kijun-Sen and Senkou Span A are directed downwards. Ichimoku Cloud is heading down (2) and widening, Chinkou Lagging Span is on the chart, and the price is below the lines. Short-term forecast: we can expect resistance from Kijun-Sen, and a further decline of the price.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected near Kumo’s downside border and formed “Dead Cross” (1). Ichimoku Cloud is going down (2), Chinkou Lagging Span is below the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect resistance from Kijun-Sen – Senkou Span A – Senkou Span B, and a further decline of the price.




XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are very close to each other above Kumo Cloud, but still influenced by “Golden Cross” (1). Ichimoku Cloud is still moving upwards (2) and widening; Chinkou Lagging Span is on the chart. Short‑term forecast: we can expect support from Tenkan-Sen – Kijun-Sen, and growth 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.