Ichimoku Cloud Analysis 17.10.2016 (GBP/USD, GOLD)
17.10.2016
Analysis for October 17th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Dead Cross” (1); D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3). Ichimoku Cloud is heading up (2); the daily cloud continues falling. Short-term forecast: we can expect resistance from Kijun-Sen – Senkou Span B, and decline of the price below the cloud.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected near Kumo’s upside border and formed “Dead Cross” (1). Ichimoku Cloud is going down (2), Chinkou Lagging Span is below the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect resistance from Tenkan-Sen, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are intersecting below Kumo Cloud and forming “Dead Cross” (1) again. D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3). Ichimoku Cloud is moving downwards; the daily cloud is also falling. Chinkou Lagging Span is below the chart; the price is on Tenkan-Sen – Kijun-Sen. Short‑term forecast: we can expect resistance from Senkou Span A and decline of the price towards support from M 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.