Ichimoku Cloud Analysis 16.08.2016 (GBP/USD, GOLD)
16.08.2016
Analysis for August 16th, 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). Ichimoku Cloud is heading down (2), Chinkou Lagging Span is on the chart, and the price is on Kijun-Sen. Short-term forecast: we can expect resistance from D Tenkan-Sen, and a further decline of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Golden Cross” (1). Ichimoku Cloud is getting narrower again, Chinkou Lagging Span is above the chart, and the price is above the lines. Short-term forecast: we can expect the price to return to the cloud’s border after breaking it.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another above Kumo Cloud, they may intersect and form “Golden Cross” (1); all lines except Senkou Span B are directed upwards. Ichimoku Cloud is moving downwards and getting narrower (2), Chinkou Lagging Span is above the chart, and the price is above the lines. Short‑term forecast: we can expect support from D Tenkan-Sen, and growth of the price.
RoboForex Analytical Department
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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.