Ichimoku Cloud Analysis 10.10.2016 (GBP/USD, GOLD)
10.10.2016
Analysis for October 10th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Golden Cross” (1), D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3). Ichimoku Cloud is closed (2), the daily cloud is still heading down, and Chinkou Lagging Span is far below the chart. Short-term forecast: we can expect support from Tenkan-Sen and D Tenkan-Sen, and continuation of the current ascending correction.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Golden Cross” (1) below Kumo Cloud. Ichimoku Cloud is going up (2), Chinkou Lagging Span is on the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect support from Kijun-Sen, and correction of the price above the cloud.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1), D Tenkan-Sen and D Kijun-Sen are influenced by D “Dead Cross” (3) as well. Ichimoku Cloud is moving downwards, the daily cloud is also falling, and Chinkou Lagging Span is getting closer to the chart. Short‑term forecast: we can expect support from Tenkan-Sen, and correction of the price towards resistance from the cloud’s downside 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.