Ichimoku Cloud Analysis 03.11.2014 (GBP/USD, GOLD)
03.11.2014
Analysis for November 3rd, 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 below 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 D Tenkan-Sen, and decline of the price.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen are very close to each other (1) below Kumo Cloud; both lines are directed upwards. Chinkou Lagging Span is above the chart, Kumo Cloud is almost closed, but still going down (2), and the price is inside the cloud. Short term forecast: we can expect growth of the price towards H4 Kijun-Sen.
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 below the lines. Short-term forecast: we can expect resistance from Tenkan-Sen, and decline of the price.
RoboForex Analytical Department
Attention!
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.