Ichimoku Cloud Analysis 04.11.2014 (GBP/USD, GOLD)
04.11.2014
Analysis for November 4th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Chinkou Lagging Span is below the chart, Kumo Cloud is going down (2), and the price is between Tenkan-Sen and Kijun-Sen, on M Kijun-Sen. Short term forecast: we can expect resistance from Kijun-Sen – 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; all lines except Kijun-Sen are directed upwards. Chinkou Lagging Span is on the chart, Kumo Cloud is going up (2), and the price is above the lines. 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 on Tenkan-Sen. Short-term forecast: we can expect resistance from Tenkan-Sen, and attempts of the price to stay between Tenkan-Sen and Kijun-Sen.
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.