Ichimoku Cloud Analysis 06.06.2016 (GBP/USD, GOLD)
06.06.2016
Analysis for June 6th, 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 “Dead Cross” (1); W Tenkan-Sen provides support. Ichimoku Cloud is heading down (2); Chinkou Lagging Span is below the chart. Short-term forecast: we can expect an ascending correction from support from W Tenkan-Sen and D Senkou Span B.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud and formed “Dead Cross” (1). Ichimoku Cloud is going down (2), Chinkou Lagging Span is on the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect resistance from the cloud’s borders , and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Golden Cross” (1); Tenkan-Sen is directed upwards. Ichimoku Cloud is very narrow, but still moving downwards (2); Chinkou Lagging Span is above the chart. Short‑term forecast: we can expect growth of the price and resistance from D Kijun-Sen.
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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.