Ichimoku Cloud Analysis 29.07.2015 (GBP/USD, GOLD)
29.07.2015
Analysis for July 29th, 2015
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Golden Cross” (1); Tenkan-Sen and Senkou Span A are directed upwards. Chinkou Lagging Span is on the chart, Ichimoku Cloud is going up (2), and the price is above the lines. Short-term forecast: we can expect growth of the price and resistance from W Senkou Span A.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Golden Cross” (1); all lines are horizontal. Chinkou Lagging Span is above the chart, Ichimoku Cloud is heading up (2) and widening, and the price is above the lines. Short-term forecast: we can expect support from Tenkan-Sen, and growth of the price.
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). Chinkou Lagging Span is on the chart, Ichimoku Cloud is still moving downwards, and the price is on Tenkan-Sen. Short‑term forecast: we can expect resistance from D Tenkan-Sen – Senkou Span A, support from Kijun-Sen, and attempts of the price to stay inside the cloud.
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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.