Ichimoku Cloud Analysis 07.07.2016 (GBP/USD, GOLD)
07.07.2016
Analysis for July 7th, 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). Ichimoku Cloud is heading down (2) and widening, Chinkou Lagging Span is below the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short-term forecast: we can expect resistance from Kijun-Sen – D Tenkan-Sen, and a further decline of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are intersecting near Kumo’s downside border and forming “Golden Cross” (1). Ichimoku Cloud is going down (2), Chinkou Lagging Span is on the chart, and the price is inside Kumo. Short-term forecast: we can expect support from Senkou Spa A and resistance from Senkou Span B.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1); Kijun-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 growth of the price up to M Senkou Span A.
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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.