Ichimoku Cloud Analysis 29.08.2016 (GBP/USD, GOLD)
29.08.2016
Analysis for August 29th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another above Kumo Cloud, they may intersect and form “Dead Cross” (1). However, Ichimoku Cloud is heading up (2), Chinkou Lagging Span is on the chart, and the price is above Kumo. Short-term forecast: we can expect support from Senkou Span A, resistance from D Kijun-Sen, and decline of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Dead Cross” (1). Ichimoku Cloud is going down (2), Chinkou Lagging Span is below the chart, and the price is below the lines. Short-term forecast: we can expect the price to continue falling.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are very close to each other under Kumo Cloud, but still influenced by “Dead Cross” (1). Ichimoku Cloud is moving downwards (2), Chinkou Lagging Span is below the chart, and the price is below the lines. Short‑term forecast: we can expect resistance from Tenkan-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.