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Ichimoku Cloud Analysis 12.10.2016 (GBP/USD, GOLD)

Analysis for October 12th, 2016

GBP USD, “Great Britain Pound vs US Dollar”

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



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Golden Cross” (1) below Kumo Cloud; Tenkan-Sen is directed upwards. Ichimoku Cloud is closed (2), Chinkou Lagging Span is on the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short-term forecast: we can expect support from Kijun-Sen, and growth of the price.




XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen didn’t intersect; both lines are still influenced by “Dead Cross” (1), D Tenkan-Sen and D Kijun-Sen are influenced by D “Dead Cross” (3) as well. Ichimoku Cloud is moving downwards; the daily cloud is also falling. Chinkou Lagging Span is getting closer to the chart; the price is on Tenkan-Sen. Short‑term forecast: we can expect resistance from Kijun-Sen and another support from M Tenkan-Sen.



 
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