Ichimoku Cloud Analysis 12.05.2016 (GBP/USD, GOLD)

12.05.2016

Analysis for May 12th, 2016

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are getting closer to each other; they may intersect and form “Golden Cross”. Ichimoku Cloud is heading down (2); Chinkou Lagging Span is below the chart. Short-term forecast: we can expect support from D Kijun-Sen, and growth of the price.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected near Kumo’s upside border and formed “Golden Cross” (1). Ichimoku Cloud is going up (2), Chinkou Lagging Span is on the chart, and the price is inside Kumo. Short-term forecast: we can expect support from Senkou Span B, and growth of the price.




XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1). Ichimoku Cloud is still moving upwards (2), Chinkou Lagging Span is on the chart, and the price is near Kumo’s upside border. Short‑term forecast: we can expect the price to move inside the cloud, resistance from D Tenkan-Sen, and support from Tenkan-Sen.



 
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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.