Analysis for May 10th, 2012
GBP/USD
GBPUSD, Time Frame Н4 – Tenkan-Sen and Kijun-Sen are close to each other and still under pressure of “Dead Cross” (1), Tenkan-Sen is directed downwards, and Kijun-Sen is 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, below Kumo Cloud. In the near term, we can expect support of Kijun‑Sen and resistance of Senkou Span B.
GBPUSD, Time Frame Н1 – Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Golden Cross” (1), both lines are horizontal. Ichimoku Cloud is going up (2), Senkou Span A is horizontal, and Senkou Span B turned downwards. Chinkou Lagging Span is on the chart, the price is below Kumo Cloud. In the near term, we can expect support of Tenkan-Sen.
GOLD
XAUUSD, Time Frame Н4 – Tenkan-Sen and Kijun-Sen are under pressure of “Dead Cross” (1), both lines are 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 on Tenkan-Sen. In the near term, we can expect resistance of Tenkan-Sen and the price to continue falling down.
XAUUSD, Time Frame Н1 – Tenkan-Sen and Kijun-Sen are under pressure of “Golden Cross” (1), the lines are very close to each other and both are horizontal. Ichimoku Cloud is going down (2), Senkou Span A is horizontal, and Senkou Span B turned downwards. Chinkou Lagging Span is on the chart, the price is below Kumo Cloud. In the near term, we can expect support of Tenkan-Sen and resistance of Senkou Span A.