Ichimoku Cloud Analysis 17.11.2015 (GBP/USD, GOLD)
17.11.2015
Analysis for November 17th, 2015
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are very close to each other inside Kumo Cloud (1); Tenkan-Sen is directed downwards. Ichimoku Cloud is heading down (2), Chinkou Lagging Span is above the chart, and the price is moving inside Kumo. Short-term forecast: we can expect support from W Senkou Span A, and growth of the price towards the cloud’s upper border and D Kijun-Sen.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are very close to each other below Kumo Cloud (1); Tenkan-Sen is directed upwards. Ichimoku Cloud is going down (2), Chinkou Lagging Span is on the chart, and the price is on Senkou Span A. Short-term forecast: we can expect resistance from the cloud’s borders and support from Tenkan-Sen – Kijun-Sen.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Golden Cross” (1); but the lines are still very close to each other. Chinkou Lagging Span is below the chart; Ichimoku Cloud is moving downwards (2). Short‑term forecast: we can expect resistance from Tenkan-Sen – Kijun-Sen – Senkou Span A, and decline 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.