Ichimoku Cloud Analysis 19.08.2014 (GBP/USD, GOLD)
19.08.2014
Analysis for August 19th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Tenkan-Sen and Kijun-Sen are very close to each other below Kumo and still influenced by “Dead Cross”; all lines are directed downwards. Ichimoku Cloud is still going down, Chinkou Lagging Span is below the chart, and the price rebounded from the resistance from D Tenkan-Sen downwards. Short‑term forecast: we can expect decline of the price and attempts of a correction inside Kumo.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen, as well as Senkou Spans A and B, are very close to each other below Kumo (1); all lines are directed downwards. Ichimoku Cloud is closed (2), and Chinkou Lagging Span is below the chart. Short‑term forecast: we can expect an ascending correction, although considering such impulse, the price is unlikely to be able form “return of the price to the cloud’s border after breaking it” pattern.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1). Ichimoku Cloud is closed (2), Chinkou Lagging Span is below the chart, and the price is near Kumo’s lower border. Short-term forecast: we can expect a steady resistance from D Kijun-Sen and H4 Senkou Span B, and the movement of the price inside D Kumo towards its lower border.
RoboForex Analytical Department
Attention!
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.