Analysis for September 5th, 2011
GBP/USD
GBPUSD, Time Frame Н4 - Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Dead Cross” (1), Tenkan-Sen and Kijun-Sen are directed downwards. Ichimoku Cloud is going down (2), Senkou Spans A and B are also going down. Chinkou Lagging Span is below the chart and is far away from it, after gap the price fixed itself below Tenkan-Sen again. In the near term, we can expect the price to continue falling down and attempts to return into the channel between Tenkan-Sen and Kijun-Sen.
GBPUSD, Time Frame Н1 - Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Dead Cross” (1), Tenkan-Sen and Kijun-Sen are directed downwards. Kumo Cloud is going down (2), leading Senkou Spans A and B are also directed downwards. Chinkou Lagging Span rebounded from the price chart downwards, the price is trying to fix itself below Tenkan-Sen. In the near term, we can expect resistance of Tenkan-Sen,
USD/CAD
USDCAD, Time Frame Н4 - Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Golden Cross” (1), Tenkan-Sen and Kijun-Sen are directed upwards. The descending Kumo Cloud is widening (2), Senkou Span A is directed downwards, and Senkou Span B is horizontal. Chinkou Lagging Span is above the chart and is moving away from it. In the near term, we can expect support of Senkou Span B and the growth of the price.
USDCAD, Time Frame Н1 - Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Golden Cross” (1), Tenkan-Sen is directed upwards, and Kijun-Sen is horizontal. Kumo Cloud is going up, Senkou Spans A and B are also horizontal. Chinkou Lagging Span is above the chart and is moving toward it, the price is trying to break resistance of Tenkan-Sen. In the near term, we can expect the price to return into the channel between Tenkan-Sen and Kijun-Sen, and attempts to fix itself below Tenkan-Sen.