Ichimoku Cloud Analysis 29.08.2014 (GBP/USD, GOLD)
29.08.2014
Analysis for August 29th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Tenkan-Sen and Kijun-Sen formed “Golden Cross” (1) below Kumo. Ichimoku Cloud is going down, Chinkou Lagging Span is on the chart, and the price is on Tenkan-Sen. Short‑term forecast: we can expect support from Tenkan-Sen – Kijun-Sen, and attempts of the price to stay inside the cloud.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Golden Cross” above Kumo (1). Ichimoku Cloud is closed (2), and Chinkou Lagging Span is on the chart. Short‑term forecast: we can expect resistance from H4 Senkou Span A, support from Senkou Span A, and growth of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Tenkan-Sen and Kijun-Sen formed “Golden Cross” below Kumo (1). Ichimoku Cloud is going down (2), Chinkou Lagging Span is above the chart, and the price is inside Tenkan-Sen – Kijun-Sen channel. Short-term forecast: we can expect support from D Tenkan-Sen – Kijun-Sen, and attempts of the price to stay inside the cloud.
RoboForex Analytical Department
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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.