Analysis for November 22nd, 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” (1), but are still influenced by D “Golden Cross” (3). Ichimoku Cloud is heading down, Chinkou Lagging Span is on the chart, and the price is inside Kumo. Short-term forecast: we can expect support from Tenkan-Sen – Kijun-Sen, and growth of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Golden Cross” (1); Tenkan-Sen is directed downwards. Ichimoku Cloud is going up (2); Chinkou Lagging Span is getting closer to the chart. Short-term forecast: we can expect resistance from Tenkan-Sen, support from Kijun-Sen – Senkou Span A, and growth of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1) and D “Dead Cross” (3). Ichimoku Cloud is still moving downwards, Chinkou Lagging Span is on the chart, and the price is being corrected between Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect support from Tenkan-Sen – W Senkou Span A, and growth of the price towards resistance from Senkou Span A.
RoboForex Analytical Department