Ichimoku Cloud Analysis 24.10.2014 (GBP/USD, GOLD)
24.10.2014
Analysis for October 24th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen formed “Dead Cross” (1). Chinkou Lagging Span is below the chart, Kumo Cloud is going up (2), but very narrow, and the price is inside the cloud, on D Tenkan-Sen. Short term forecast: we can expect resistance from Kijun-Sen.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Golden Cross” (1). Chinkou Lagging Span is on the chart, and Kumo Cloud is going down (2). Short term forecast: we can expect resistance from Senkou Span A, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4: Tenkan-Sen and Kijun-Sen formed “Dead Cross” (1). Chinkou Lagging Span is below the chart, Kumo Cloud is almost closed (2), and the price is inside Kumo. Short-term forecast: we can expect resistance from D Senkou Span A, and attempts of the price to stay below the cloud.
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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.