Ichimoku Cloud Analysis 17.08.2016 (GBP/USD, GOLD)
17.08.2016
Analysis for August 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 (1). Ichimoku Cloud is heading down (2), Chinkou Lagging Span is on the chart, and the price is below the cloud. Short-term forecast: we can expect resistance from the cloud’s downside border, and decline of the price towards D Tenkan-Sen.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1); Tenkan-Sen is directed downwards. Ichimoku Cloud is going up (2), Chinkou Lagging Span is above the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect support from Kijun-Sen, and attempts of the price to stay inside the cloud.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Golden Cross”. Ichimoku Cloud is very narrow, but is still moving downwards (2), Chinkou Lagging Span is below the chart, and the price is on Senkou Span B and D Tenkan-Sen. Short‑term forecast: we can expect resistance from Kijun-Sen, and decline of the price towards D Kijun-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.