Ichimoku Cloud Analysis 21.11.2014 (GBP/USD, GOLD)
21.11.2014
Analysis for November 21st, 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 Cloud. Chinkou Lagging Span is on the chart, Kumo Cloud is going down (2), and the price is inside a narrow channel between Tenkan-Sen and Kijun-Sen. Short term forecast: we can expect support from Kijun-Sen, and growth of the price.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen are very close to each other above Kumo Cloud; they may intersect and form “Dead Cross” (1); Tenkan-Sen and Senkou Span A are directed downwards. Chinkou Lagging Span is on the chart, Kumo Cloud is moving upwards (2), and the price is on Tenkan-Sen – Kijun-Sen. Short term forecast: we can expect decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Chinkou Lagging Span is above the chart, and Kumo Cloud is heading up (2). Short-term forecast: we can expect support from Tenkan‑Sen – D Kijun-Sen.
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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.