Ichimoku Cloud Analysis 06.07.2016 (GBP/USD, GOLD)
06.07.2016
Analysis for July 6th, 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) again. Ichimoku Cloud is heading down (2), Chinkou Lagging Span is below the chart, and the price is below the lines. 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 still influenced by “Dead Cross” (1). Ichimoku Cloud is going down (2) and widening, Chinkou Lagging Span is getting closer to the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short-term forecast: we can expect support from Tenkan-Sen and resistance from Senkou Span A.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1); Tenkan-Sen and Senkou Span A are directed upwards. Ichimoku Cloud is still moving upwards (2) and widening; Chinkou Lagging Span is 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.