Ichimoku Cloud Analysis 06.10.2016 (GBP/USD, GOLD)
06.10.2016
Analysis for October 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), 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 getting closer to the chart. Short-term forecast: we can expect the price to complete the sideways correction and then continue falling.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected near Kumo’s downside border again and formed “Dead Cross” (1). Ichimoku Cloud is closed (2), Chinkou Lagging Span is on the chart, and the price is on Senkou Span A. Short-term forecast: we can expect resistance from Senkou Span B, 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. 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 a further decline of the price towards support from M Tenkan-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.