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Ichimoku Cloud Analysis 08.11.2016 (GBP/USD, GOLD)

Analysis for November 8th, 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 is 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 on Tenkan-Sen. Short-term forecast: we can expect support from Kijun-Sen and resistance from D Senkou Span B.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Golden Cross” (1) below Kumo Cloud. Ichimoku Cloud is going down (2); Chinkou Lagging Span is on the chart. Short-term forecast: we can expect support from Tenkan-Sen – Kijun-Sen, and growth of the price towards resistance from Senkou Span B.




XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are forming “Dead Cross” (1); Tenkan-Sen is directed downwards. However, D Tenkan-Sen and D Kijun-Sen are still influenced by “Golden Cross” (3). Ichimoku Cloud is moving upwards (2), but the daily cloud continues falling. Chinkou Lagging Span is on the chart. Short‑term forecast: we can expect support from the cloud’s downside border and resistance from D Senkou Span A.



 
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