Ichimoku Cloud Analysis 26.08.2016 (GBP/USD, GOLD)
26.08.2016
Analysis for August 26th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Golden Cross” (1). Ichimoku Cloud is heading up (2), Chinkou Lagging Span is above the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect support from Kijun-Sen, and growth of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Golden Cross” (1). Ichimoku Cloud is going down (2), Chinkou Lagging Span is on the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short-term forecast: we can expect support from Kijun-Sen, resistance from Tenkan-Sen, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1); Kijun-Sen is directed downwards. Ichimoku Cloud is moving downwards (2) and widening, Chinkou Lagging Span is far below the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect support from Tenkan-Sen, resistance from Kijun-Sen, and a further decline of the price inside 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.