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Home / Analytics / Forex analysis & forecasts / Forex Ichimoku cloud analysis and forecast / Ichimoku Cloud Analysis 24.10.2016 (GBP/USD, GOLD)
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Ichimoku Cloud Analysis 24.10.2016 (GBP/USD, GOLD)

24.10.2016

Analysis for October 24th , 2016

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Dead Cross” (1). Ichimoku Cloud is heading down (2), Chinkou Lagging Span is above the chart, and the price is on Tenkan-Sen – Kijun-Sen. Short-term forecast: we can expect resistance from D Kijun-Sen, and attempts of the price to stay below the cloud.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Golden Cross” (1). Ichimoku Cloud is going down (2); the price reached Kumo’s downside border. Short-term forecast: we can expect resistance from Senkou Span B, support from Kijun-Sen, and growth of the price above the cloud.




XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are very close to each other, but influenced by “Golden Cross” (1). D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3). Ichimoku Cloud is moving upwards (2), 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 resistance from Senkou Span B, support from Senkou Span A, and growth of the price towards D Kijun-Sen.



 
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