Ichimoku Cloud Analysis 08.12.2016 (GBP/USD, GOLD)
08.12.2016
Analysis for December 8th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed “Dead Cross” (1), but the lines are still influenced by D “Golden Cross” (3); Kijun-Sen is directed upwards. Ichimoku Cloud is heading up, the daily cloud is rising as well, and Chinkou Lagging Span is on the chart. Short-term forecast: we can expect support from Kijun-Sen, and growth of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected under Kumo Cloud and formed “Golden Cross” (1). Ichimoku Cloud is very narrow and still going down (2); Chinkou Lagging Span is above the chart. Short-term forecast: we can expect the price to return to the cloud’s broken border and then continue moving upwards.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another below Kumo Cloud, they may intersect and form “Golden Cross” (1), but both lines are still influenced by D “Dead Cross” (3). Ichimoku Cloud is moving downwards, the daily cloud is falling as well. Chinkou Lagging Span is on the chart, and the price is on Tenkan-Sen – Kijun-Sen. Short‑term forecast: we can expect resistance from W Senkou Span A, and decline of the price.
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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.