Ichimoku Cloud Analysis 26.10.2016 (GBP/USD, GOLD)

26.10.2016

Analysis for October 26th, 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). Ichimoku Cloud is heading down (2), Chinkou Lagging Span is below the chart, and the price is inside Kumo. Short-term forecast: we can expect resistance from D Kijun-Sen – Senkou Span A, and decline of the price below the cloud.



GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected inside Kumo Cloud and formed “Golden Cross” (1); Kijun-Sen and Senkou Span A are directed downwards. Ichimoku Cloud is going up (2); the price is near Kumo’s downside border. Short-term forecast: we can expect support from Tenkan-Sen, and growth of the price above the cloud.




XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are intersecting above Kumo Cloud again and forming “Golden Cross” (1); but the lines are getting closer to each other. D Tenkan-Sen and D Kijun-Sen are still influenced by D “Dead Cross” (3). Ichimoku Cloud is moving upwards (2), Chinkou Lagging Span is above the chart, and the price is moving above Kumo towards D Kijun-Sen. Short‑term forecast: we can expect support from Tenkan-Sen – Kijun-Sen, and growth 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.