Ichimoku Cloud Analysis 07.12.2016 (GBP/USD, GOLD)
07.12.2016
Analysis for December 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 “Golden Cross” (1) and D “Golden Cross” (3), but the lines are getting closer to each other; Tenkan-Sen is directed downwards. Ichimoku Cloud is heading up (2); Chinkou Lagging Span is getting closer to the chart. Short-term forecast: we can expect support from Senkou Span A, and growth of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1); all lines are directed downwards. Ichimoku Cloud is going down (2); Chinkou Lagging Span is below the chart. Short-term forecast: we can expect resistance from Kijun-Sen, and decline of the price up to the H4 Senkou Span A.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are very close to each other below Kumo Cloud, they may intersect and form “Golden Cross” (1); Tenkan-Sen is directed upwards, both lines are still influenced by D “Dead Cross” (3). Ichimoku Cloud is moving downwards, the daily cloud is falling as well. Chinkou Lagging Span is close to the chart, and the price is on Tenkan-Sen – Kijun-Sen. Short‑term forecast: we can expect resistance from W Senkou Span A, and decline 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.