Ichimoku Cloud Analysis 19.10.2016 (GBP/USD, GOLD)

19.10.2016

Analysis for October 19th, 2016

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Golden Cross” inside Kumo Cloud (1). Ichimoku Cloud is heading up (2), Chinkou Lagging Span is still on the chart, and the price is on D Kijun-Sen. Short-term forecast: we can expect support from Senkou Span B – Tenkan-Sen, and the ascending correction above the cloud.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1), but the lines are very close to each other above Kumo Cloud; Kijun-Sen and Senkou Span A are directed upwards. Ichimoku Cloud is going up (2); the price is above the lines. Short-term forecast: we can expect growth of the price, another correction, and then support from the cloud’s upside border.




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); Tenkan-Sen is directed upwards. D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3). Ichimoku Cloud is closed, Chinkou Lagging Span is above the chart, and the price is between D Tenkan-Sen and D Kijun-Sen, inside Kumo. Short‑term forecast: we can expect support from Tenkan-Sen, and the price to move towards the cloud’s upside border.



 
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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.