Analysis for November 17th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud and formed “Dead Cross” (1). Ichimoku Cloud is heading down (2); Chinkou Lagging Span is above the chart. Short-term forecast: we can expect support from Senkou Span A – D Senkou Span B, resistance from Kijun-Sen, and more attempts of the price to stay inside the cloud.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another below Kumo Cloud, they may intersect and form “Golden Cross” (1); all lines are directed upwards. Ichimoku Cloud is going up (2); Chinkou Lagging Span is still on the chart. Short-term forecast: we can expect support from Senkou Span B, and growth of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1); Kijun-Sen is directed downwards. Ichimoku Cloud is moving downwards and widening, Chinkou Lagging Span is getting closer to the chart, and the price is on Tenkan-Sen. Short‑term forecast: we can expect the price to be corrected up to Kijun-Sen and then move downwards.
RoboForex Analytical Department
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