Ichimoku Cloud Analysis 05.10.2016 (GBP/USD, GOLD)
05.10.2016
Analysis for October 5th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1), D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3); Tenkan-Sen and D Tenkan-Sen are directed downwards. Ichimoku Cloud is heading down and the daily cloud is falling as well. Chinkou Lagging Span is moving below the chart. Short-term forecast: we can expect resistance from Tenkan-Sen, a further decline of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1); the channel between these lines is getting narrower. Ichimoku Cloud is going down (2), Chinkou Lagging Span is close to the chart, and the price is on Kijun-Sen. Short-term forecast: we can expect resistance from Senkou Span A, 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 influenced by “Dead Cross” (1), D Tenkan-Sen and D Kijun-Sen are influenced by D “Dead Cross” (3) as well; D Tenkan-Sen is directed downwards. Ichimoku Cloud is moving downwards, the daily cloud is falling as well, and Chinkou Lagging Span is below the chart. Short‑term forecast: we can expect a correction up to resistance from Tenkan-Sen, and decline of the price.
RoboForex Analytical Department
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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.