Analysis for July 8th, 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), Chinkou Lagging Span is below the chart, and the price is below the lines. Short-term forecast: we can expect resistance from D Tenkan-Sen, and decline of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1), but Tenkan-Sen is directed upwards. Ichimoku Cloud is closed (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 – Senkou Span B, and attempts of the price to stay above the cloud.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Ichimoku Cloud is moving upwards (2) and widening, Chinkou Lagging Span is above the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect support from D Tenkan-Sen – Kijun-Sen – Senkou Span A, and a further growth of the price.
RoboForex Analytical Department