Ichimoku Cloud Analysis 31.10.2014 (GBP/USD, GOLD)
31.10.2014
Analysis for October 31st, 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) above Kumo Cloud. Chinkou Lagging Span is on the chart, Kumo Cloud is closed (2), and the price is below the lines. Short term forecast: we can expect resistance from Senkou Span B.
GBP USD, Time Frame H1. 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 between Tenkan-Sen and Kijun-Sen. Short term forecast: we can expect resistance from Senkou Span B, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1); Tenkan-Sen and Senkou Span A are directed downwards. Chinkou Lagging Span is below the chart, Kumo Cloud is heading down (2), and the price is below the lines. Short-term forecast: we can expect resistance from Tenkan-Sen, and decline of the price.
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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.