Ichimoku Cloud Analysis 29.11.2016 (GBP/USD, GOLD)
29.11.2016
Analysis for November 29th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are very close to each other, but still influenced by “Golden Cross” (1). Ichimoku Cloud is heading up (2), Chinkou Lagging Span is on the chart, and the price is inside Kumo. Short-term forecast: we can expect resistance from the cloud’s upside border, support from Kijun-Sen, and attempts of the price to stay above the cloud.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another below Kumo Cloud, they may intersect and form “Golden Cross” (1). Ichimoku Cloud is going down (2); Chinkou Lagging Span is on the chart. Short-term forecast: we can expect support from H4 Kijun-Sen, and growth 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) and D “Dead Cross” (3). Ichimoku Cloud is very narrow, but still moving downwards, Chinkou Lagging Span is below the chart, and the price may reach D Kumo’s downside border. Short‑term forecast: we can expect resistance from Kijun-Sen, and decline of the price.
RoboForex Analytical Department
Attention!
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.