Ichimoku Cloud Analysis 12.08.2016 (GBP/USD, GOLD)
12.08.2016
Analysis for August 12th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1); Kijun-Sen and Senkou Span A are directed downwards. Ichimoku Cloud is heading down and widening (2), Chinkou Lagging Span is below the chart, and the price is below the lines. Short-term forecast: we can expect resistance from Tenkan-Sen, and a further decline of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1). Ichimoku Cloud is going down (2) and widening, Chinkou Lagging Span is on the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect resistance from the cloud’s downside border, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another inside Kumo Cloud (1); Kijun-Sen and Senkou Span A are directed downwards. Ichimoku Cloud is moving downwards and widening (2), Chinkou Lagging Span is very close to the chart, and the price is below the lines. Short‑term forecast: we can expect resistance from D Kijun-Sen, and decline of the price towards D 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.