Ichimoku Cloud Analysis 03.11.2016 (GBP/USD, GOLD)
03.11.2016
Analysis for November 3rd, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Golden Cross” (1). D Tenkan-Sen and D Kijun-Sen formed D “Golden Cross” (3) as well. Ichimoku Cloud is heading up (2), Chinkou Lagging Span is above the chart, and the price is above the lines. Short-term forecast: we can expect growth of the price towards W Tenkan-Sen and the downside border of the daily Kumo.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1); bot lines are moving upwards. Ichimoku Cloud is going up and widening(2), Chinkou Lagging Span is above the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect support from Kijun-Sen, 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). D Tenkan-Sen and D Kijun-Sen intersected and formed “Golden Cross” (3) as well. Ichimoku Cloud is moving upwards (2), but the daily cloud continues falling. 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 W Kijun-Sen, resistance from the daily cloud’s downside border, 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.