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Home / Analytics / Forex analysis & forecasts / Forex Ichimoku cloud analysis and forecast / Ichimoku Cloud Analysis 10.10.2016 (GBP/USD, GOLD)
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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.



 
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