Analysis for May 7th, 2012
GBP/USD
GBPUSD, Time Frame Н4 – Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud forming “Dead Cross” (1), Tenkan-Sen is horizontal, and Kijun-Sen is directed downwards. Ichimoku Cloud is going down (2), Senkou Span A is moving downwards, and Senkou Span B is horizontal. Chinkou Lagging Span is below the chart, the price is below Tenkan-Sen and Kijun-Sen, inside Kumo Cloud. In the near term, we can expect resistance of Tenkan‑Sen and the price to move downwards.
GBPUSD, Time Frame Н1 – Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Dead Cross”, both lines are horizontal. Ichimoku Cloud is going down (2), Senkou Spans A and B are also horizontal. Chinkou Lagging Span is below the chart, the price is in the channel between Tenkan-Sen and Kijun-Sen. In the near term, we can expect support of Tenkan-Sen and resistance of Kijun-Sen.
GOLD
XAUUSD, Time Frame Н4 – Tenkan-Sen and Kijun-Sen are under pressure of “Dead Cross” (1), both lines are horizontal. Ichimoku Cloud is going down (2), Senkou Span A is horizontal, and Senkou Span B turned upwards. Chinkou Lagging Span is below the chart, the price is inside Kumo Cloud. In the near term, we can expect support of Tenkan-Sen.
XAUUSD, Time Frame Н1 – Tenkan-Sen and Kijun-Sen are under pressure of “Golden Cross” (1), both lines are horizontal. Ichimoku Cloud is going up (2), Senkou Spans A and B are also horizontal. Chinkou Lagging Span is above the chart and moving towards it, the price is inside Kumo Cloud. In the near term, we can expect support of Tenkan-Sen.