Ichimoku Cloud Analysis 02.05.2016 (GBP/USD, GOLD)
02.05.2016
Analysis for May 2nd, 2016
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); Kijun-Sen and Senkou Span A are directed upwards. Ichimoku Cloud is heading up and widening (2); Chinkou Lagging Span is above the chart. Short-term forecast: we can expect resistance from Tenkan-Sen and a descending correction towards the cloud’s upside border.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Ichimoku Cloud is going up (2), Chinkou Lagging Span is on the chart, and the price is above Kumo. Short-term forecast: we can expect support from the cloud, and growth of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Ichimoku Cloud is moving upwards and widening (2); Chinkou Lagging Span is far above the chart. Short‑term forecast: we can expect support from Tenkan-Sen, and a further 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.