Ichimoku Cloud Analysis 18.05.2016 (GBP/USD, GOLD)
18.05.2016
Analysis for May 18th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Golden Cross” (1). Ichimoku Cloud is closed (2), Chinkou Lagging Span is on the chart, and the price is on Kijun-Sen. Short-term forecast: we can expect support from D Tenkan-Sen, and growth of the price towards D Kijun-Sen.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud and formed “Dead Cross” (1). Ichimoku Cloud is closed (2), Chinkou Lagging Span is below the chart, and the price is below the lines. Short-term forecast: we can expect resistance from Kijun-Sen, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another above Kumo Cloud; they may intersect and form “Dead Cross” (1). Ichimoku Cloud is closed, Chinkou Lagging Span is on the chart, and the price is near the cloud’s upside border. Short‑term forecast: we can expect resistance from Tenkan-Sen and 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.