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Ichimoku Cloud Analysis 11.10.2016 (GBP/USD, GOLD)

Analysis for October 11th, 2016

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Golden Cross” (1), but D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3). Ichimoku Cloud is still closed (2), the daily cloud is heading down, and Chinkou Lagging Span is getting closer to the chart. Short-term forecast: we can expect resistance from Tenkan-Sen – D Kijun-Sen and support from Kijun-Sen.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Dead Cross” (1) above Kumo Cloud. Ichimoku Cloud is closed (2), Chinkou Lagging Span is below the chart, and the price is inside Kumo. Short-term forecast: we can expect resistance from Kijun-Sen, and the price to move inside the cloud.




XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1), D Tenkan-Sen and D Kijun-Sen are influenced by D “Dead Cross” (3) as well; Tenkan-Sen is directed upwards. Ichimoku Cloud is moving downwards, the daily cloud is also falling, and Chinkou Lagging Span is getting closer to the chart. Short‑term forecast: we can expect another support from M Tenkan-Sen, and correction of the price up to Senkou Span A.



 
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