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Ichimoku Cloud Analysis 07.11.2016 (GBP/USD, GOLD)

Analysis for November 7th, 2016

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1); Tenkan-Sen and Senkou Span A are directed downwards. D Tenkan-Sen and D Kijun-Sen are influenced by D “Golden Cross” (3) as well. Ichimoku Cloud is heading up (2), Chinkou Lagging Span is above the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short-term forecast: we can expect the price to fall towards support from Kijun-Sen – D Tenkan-Sen.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Dead Cross” (1); Tenkan-Sen and Senkou Span A are directed downwards. Ichimoku Cloud is very narrow and may reverse (2), Chinkou Lagging Span is below the chart, and the price is inside Kumo. Short-term forecast: we can expect support from Senkou Span A, resistance from Tenkan-Sen, and attempts of the price to stay below the cloud.




XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Golden Cross” (1); Tenkan-Sen is directed upwards. D Tenkan-Sen and D Kijun-Sen are influenced by “Golden Cross” (3) as well. Ichimoku Cloud is moving upwards (2), but the daily cloud continues falling. Chinkou Lagging Span is very close to the chart, and the price is on D Tenkan-Sen. Short‑term forecast: we can expect decline of the price and support from D Kijun-Sen.



 
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