Analysis for August 20th, 2013
GBP/USD
GBPUSD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud and formed “Golden Cross” (1); all lines are horizontal. Ichimoku Cloud is going up (2), Chinkou Lagging Span is above the chart, and the price is on Tenkan-Sen. Short‑term forecast: we can expect support of Tenkan-Sen and the price to grow up.
GBPUSD, Time Frame H1 – Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Dead Cross” (1); all lines are horizontal. Ichimoku Cloud is very narrow and going up (2); Chinkou Lagging Span is on the chart, and the price is on Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect support of Senkou Span A and the price to continue moving upwards.
GOLD
XAUUSD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen are still under pressure of “Golden Cross”; Tenkan-Sen is directed downwards, other lines are horizontal. Ichimoku Cloud is going up (2), Chinkou Lagging Span is above the chart, and the price is in the channel between Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect support of Kijun-Sen and the price to move upwards.
XAUUSD, Time Frame H1 – Indicator signals: Tenkan-Sen and Kijun-Sen are under pressure of “Dead Cross” (1); all lines are horizontal. Ichimoku Cloud is going down (2), Chinkou Lagging Span is below the chart, and the price is inside Kumo Cloud. Short‑term forecast: we can expect resistance of Kijun-Sen and support of Senkou Span B.
RoboForex Analytical Department