Ichimoku Cloud Analysis 11.10.2016 (GBP/USD, GOLD)

11.10.2016

Analysis for October 11th, 2016

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Golden Cross” (1), but D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3). Ichimoku Cloud is still closed (2), the daily cloud is heading down, and Chinkou Lagging Span is getting closer to the chart. Short-term forecast: we can expect resistance from Tenkan-Sen – D Kijun-Sen and support from Kijun-Sen.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Dead Cross” (1) above Kumo Cloud. Ichimoku Cloud is closed (2), Chinkou Lagging Span is below the chart, and the price is inside Kumo. Short-term forecast: we can expect resistance from Kijun-Sen, and the price to move inside 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; Tenkan-Sen is directed upwards. 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 another support from M Tenkan-Sen, and correction of the price up to Senkou Span A.



 
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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.