Ichimoku Cloud Analysis 29.10.2014 (GBP/USD, GOLD)
29.10.2014
Analysis for October 29th, 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). Chinkou Lagging Span is above the chart, Kumo Cloud is going up (2), and the price is on Tenkan-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 formed “Golden Cross” (1); Tenkan-Sen is directed downwards. Chinkou Lagging Span is above the chart, and Kumo Cloud is going up (2). Short term forecast: we can expect attempts of the price to stay inside the cloud.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Chinkou Lagging Span is below the chart, Kumo Cloud is heading down (2), and the price is near the cloud’s lower border. Short-term forecast: we can expect 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.