Analysis for December 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 “Golden Cross” (1) and D “Golden Cross” (3). 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 support from Tenkan-Sen, and growth of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Ichimoku Cloud is going up (2); Chinkou Lagging Span is close to the chart. Short-term forecast: we can expect support from Tenkan-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 very close to each other, but still influenced by “Dead Cross” (1) and D “Dead Cross” (3). Ichimoku Cloud is moving downwards, the daily cloud is falling as well. Chinkou Lagging Span is below the chart, and the price is on Tenkan-Sen. Short‑term forecast: we can expect resistance from W Senkou Span B, and decline of the price.
RoboForex Analytical Department