Ichimoku Cloud Analysis 20.05.2016 (GBP/USD, GOLD)
20.05.2016
Analysis for May 20th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Ichimoku Cloud is heading up and widening (2), Chinkou Lagging Span is above the chart, and the price is between Tenkan-Sen and Kijun-Sen, above the cloud. Short-term forecast: we can expect support from Kumo’s upside border, and growth of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud and formed “Dead Cross” (1). Ichimoku Cloud is still going up (2), Chinkou Lagging Span is above the chart, and the price is below the lines, above the cloud. Short-term forecast: we can expect support from Senkou Span A, and a further growth of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud and formed “Dead Cross” (1); Tenkan-Sen and Senkou Span A are directed downwards. Ichimoku Cloud is still moving downwards and widening (2), Chinkou Lagging Span is below the chart, and the price is on Tenkan-Sen. Short‑term forecast: we can expect resistance from D Kijun-Sen, and decline of the price towards D Kumo.
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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.