Weekly Ichimoku Cloud Analysis 03.11.2014 (GBP/USD, GOLD)
03.11.2014
Weekly Analysis, November 3rd - 7th 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBPUSD, Time Frame Weekly. Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1). Ichimoku Cloud is going down (2), Chinkou Lagging Span is below the chart, and the price is inside Kumo. Short‑term forecast: we can expect support from Senkou Span B, and attempts of the price to stay below the cloud.
GBP USD, Time Frame Daily. Tenkan-Sen and Kijun-Sen formed “Dead Cross” (1) below Kumo Cloud; Senkou Span B is directed downwards. Ichimoku Cloud is going down (2), Chinkou Lagging Span is below the chart, and the price is below the lines. 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 Weekly. Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1); all lines are directed downwards. Ichimoku Cloud is going down (2), Chinkou Lagging Span is below the chart, and the price is below the lines. Short-term forecast: we can expect decline of the price.
XAUUSD, Time Frame Daily. Tenkan-Sen and Kijun-Sen are very close to each other below Kumo Cloud (1); all lines are directed downwards. Ichimoku Cloud is going down (2), Chinkou Lagging Span is below the chart, and the price is below the lines. Short‑term forecast: we can expect resistance from Tenkan-Sen, and decline of the price.
RoboForex Analytical Department
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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.