Ichimoku Cloud Analysis 31.10.2016 (GBP/USD, GOLD)

31.10.2016

Analysis for October 31st, 2016

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen ran onto one another (1). Ichimoku Cloud is heading down (2), Chinkou Lagging Span is below the chart, and the price is on Kijun-Sen. Short-term forecast: we can expect resistance from Tenkan-Sen – Kijun-Sen, and decline of the price below the cloud.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1); Tenkan-Sen and Senkou Span A are directed downwards. Ichimoku Cloud is going down (2); the price is between Tenkan-Sen and Kijun-Sen. Short-term forecast: we can expect support from Senkou Span A and resistance from Senkou Span B.




XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another above Kumo Cloud (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 getting closer to the chart, and the price is on Tenkan-Sen –Kijun-Sen. Short‑term forecast: we can expect decline of the price, and support from Senkou Span B.



 
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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.