Analysis for October 11th, 2011
GBP/USD
GBPUSD, Time Frame Н4 – Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Golden Cross” (1), both lines are horizontal. Kumo Cloud is going up (2), Senkou Spans A and B are also horizontal. Chinkou Lagging Span is above the chart, the price is above the indicator’s lines. In the near term, we can expect support of Tenkan-Sen and attempts of the price to stay in the channel between Tenkan-Sen and Kijun-Sen.
GBPUSD, Time Frame Н1 – Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud forming “Dead Cross” (1), both lines are horizontal. Ichimoku Cloud is going up (2), Senkou Span A turned upwards, Senkou Span B is also horizontal. Chinkou Lagging Span may cross the white candlestick in a downward direction, the price is in the channel between Tenkan-Sen and Kijun-Sen and is trying to break support of Tenkan-Sen. In the near term, we can expect support of Tenkan-Sen and the price to continue moving downwards to Senkou Span A.
USD/CAD
USDCAD, Time Frame Н4 – Tenkan-Sen and Kijun-Sen intersected above the cloud forming “Dead Cross” (1), and are moving away from each other, Tenkan-Sen is directed downwards, and Kijun-Sen is horizontal. Kumo Cloud is going down, Senkou Spans A and B are also horizontal. Chinkou Lagging Span is below the chart, the price is below Tenkan-Sen inside Kumo Cloud. In the near term, we can expect resistance of Tenkan-Sen and support of Senkou Span B.
USDCAD, Time Frame Н1 – Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Golden Cross” (1), both lines are horizontal. Kumo Cloud keeps going down, Senkou Spans A and B are horizontal. Chinkou Lagging Span is below the chart and is trying to rebound from it, the price is below Kumo Cloud, above Tenkan-Sen. In the near term, we can expect resistance of Senkou Span A.