Ichimoku Cloud Analysis 20.10.2014 (GBP/USD, GOLD)
20.10.2014
Analysis for October 20th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen formed “Golden Cross” (1) below Kumo; Tenkan-Sen and Senkou Span A are directed upwards. Chinkou Lagging Span is on the chart, Kumo Cloud is almost closed (2), and the price is on Senkou Span B. Short term forecast: we can expect attempts of the price to stay above the cloud.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Chinkou Lagging Span is above the chart, Kumo Cloud is going up (2), and the price is above the lines. Short term forecast: we can expect resistance from H4 Senkou Span B, support from Kijun-Sen, and growth of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4s: Tenkan-Sen and Kijun-Sen are still influenced by “Golden Cross” (1). Chinkou Lagging Span is above the chart, Kumo Cloud is going up (2), and the price is above the lines. Short-term forecast: we can expect resistance from D Senkou Span A, support from Senkou Span A, and growth of the price.
RoboForex Analytical Department
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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.