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Ichimoku Cloud Analysis 02.11.2016 (GBP/USD, GOLD)

Analysis for November 2nd, 2016

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Golden Cross” (1). Ichimoku Cloud is heading up (2), Chinkou Lagging Span is above the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect growth of the price towards resistance from W Tenkan-Sen.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen formed “Golden Cross” (1). Ichimoku Cloud is going up (2), Chinkou Lagging Span is on the chart, and the price is above the lines. Short-term forecast: we can expect support from the cloud’s upside border, and growth of the price.




XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1); all lines are directed upwards. D Tenkan-Sen and D Kijun-Sen ran into one another, they may intersect and form “Golden Cross” (3) as well. Ichimoku Cloud is moving upwards (2), but the daily cloud continues falling. Chinkou Lagging Span is above the chart, and the price is on W Tenkan-Sen. Short‑term forecast: we can expect support from W Kijun-Sen, and growth of the price towards the daily cloud’s downside border.



 
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