Ichimoku Cloud Analysis 17.05.2016 (GBP/USD, GOLD)

17.05.2016

Analysis for May 17th, 2016

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another below Kumo Cloud; they may intersect and form “Golden Cross” (1). Ichimoku Cloud is heading down (2), Chinkou Lagging Span is above the chart, and the price is close to the cloud’s downside border. Short-term forecast: we can expect support from D Tenkan-Sen and D Kijun-Sen, and attempts of the price to stay inside Kumo.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1); Kijun-Sen and Senkou Span A are directed upwards. Ichimoku Cloud is going up and widening (2); Chinkou Lagging Span is above the chart. Short-term forecast: we can expect resistance from Tenkan-Sen, support from Kijun-Sen, and growth of the price.




XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected inside Kumo Cloud and formed “Golden Cross” (1). Ichimoku Cloud is closed, Chinkou Lagging Span is above the chart, and the price is inside the cloud, on Kijun-Sen. Short‑term forecast: we can expect support from D Kijun-Sen, and growth of the price.



 
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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.