Ichimoku Cloud Analysis 22.10.2014 (GBP/USD, GOLD)
22.10.2014
Analysis for October 22nd, 2014
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); the price is “returning to the cloud’s border after breaking it”. Chinkou Lagging Span is above the chart, Kumo Cloud is going up (2), and the price is between Tenkan-Sen and Kijun-Sen. Short term forecast: we can expect support from D Tenkan-Sen.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Dead Cross” (1). Chinkou Lagging Span is below the chart, Kumo Cloud is getting narrower, but still going up (2), and the price is inside the cloud. Short term forecast: we can expect resistance from Tenkan-Sen, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1); all lines except Kijun-Sen are directed upwards. Chinkou Lagging Span is above the chart, Kumo Cloud is going up (2), and the price is inside D Kumo. Short-term forecast: we can expect support from D Senkou Span A, and growth of the price inside D Kumo towards its upper border.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.