Ichimoku Cloud Analysis 03.10.2016 (GBP/USD, GOLD)
03.10.2016
Analysis for October 3rd, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected again below Kumo Cloud and formed “Dead Cross” (1). D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3). Ichimoku Cloud is heading down and the daily cloud is falling as well. Chinkou Lagging Span is below the chart. Short-term forecast: we can expect resistance from Tenkan-Sen, and a further decline of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Ichimoku Cloud is going down (2), Chinkou Lagging Span is below the chart, and the price is almost on Tenkan-Sen. Short-term forecast: we can expect resistance from Tenkan-Sen, and correction of the price up to Senkou Span A.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). D Tenkan-Sen and D Kijun-Sen ran into one another and may also form D “Golden Cross” (3). Ichimoku Cloud is moving downwards, the daily cloud is falling as well, and Chinkou Lagging Span is still below the chart. Short‑term forecast: we can expect resistance from Tenkan-Sen, and 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.