Ichimoku Cloud Analysis 08.10.2014 (GBP/USD, GOLD)
08.10.2014
Analysis for October 8th, 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); all lines are horizontal. Chinkou Lagging Span is below the chart, Kumo Cloud is heading down, and the price is below Tenkan-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 “Dead Cross” (1) above Kumo. Chinkou Lagging Span is on the chart, Kumo Cloud is going up, and the price is on Tenkan-Sen. Short term forecast: we can expect support from Senkou Span A, growth of the price, and then attempts to stay below the cloud.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Tenkan-Sen and Kijun-Sen formed “Golden Cross” (1) below Kumo; Tenkan-Sen and Senkou Span A are directed upwards. Chinkou Lagging Span is above the chart, and Kumo Cloud is closed. Short-term forecast: we can expect resistance from D Kijun-Sen and support from Senkou Span A.
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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.