Ichimoku Cloud Analysis 01.10.2014 (GBP/USD, GOLD)
01.10.2014
Analysis for October 1st, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Chinkou Lagging Span is below the chart, Kumo Cloud is heading down, and the price is below the lines. Short term forecast: we can expect resistance from Tenkan-Sen, and decline of the price towards W Kumo’s lower border.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen are very close to each other below Kumo (1); all lines are directed downwards. Chinkou Lagging Span is below the chart, Kumo Cloud is going down, and the price is on Tenkan-Sen. Short term forecast: we can expect resistance from Senkou Span A, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Tenkan-Sen and Kijun-Sen formed “Dead Cross” near Kumo’s lower border (1). Chinkou Lagging Span is below the chart, and Kumo Cloud is going down. Short-term forecast: we can expect resistance from Tenkan-Sen, 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.