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.
RoboForex Analytical Department
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