Ichimoku Cloud Analysis 07.10.2014 (GBP/USD, GOLD)
07.10.2014
Analysis for October 7th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1); Kijun-Sen and Senkou Span B are directed downwards. Chinkou Lagging Span is getting close to the chart, Kumo Cloud is heading down, 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 towards M Kijun-Sen.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Golden Cross” (1) below Kumo. Chinkou Lagging Span is above the chart, Kumo Cloud is closed, and the price is inside the cloud. Short term forecast: we can expect resistance from Senkou Span B, support from Tenkan-Sen, and attempts of the price to stay above the cloud.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Tenkan-Sen and Kijun-Sen are very close to each other below Kumo and still influenced by “Dead Cross” (1). Chinkou Lagging Span is close to the chart, and Kumo Cloud is going down. Short-term forecast: we can expect support from Kijun-Sen, and growth of the price towards the cloud’s lower border.
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.