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Ichimoku Cloud Analysis 02.09.2016 (GBP/USD, GOLD)

Article By RoboForex.com

Analysis for September 2nd, 2016

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected inside Kumo Cloud and formed “Golden Cross” (1). Ichimoku Cloud is very narrow (2), but continues heading up, Chinkou Lagging Span is very close to the chart, and the price is above the lines, inside D Kumo. Short-term forecast: we can expect support from Tenkan-Sen, and growth of the price.

GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another above Kumo Cloud (1). Ichimoku Cloud is going up (2) and widening, Chinkou Lagging Span is on the chart, and the price is on Tenkan-Sen and Kijun-Sen. Short-term forecast: we can expect support from Senkou Span A, and growth of the price.

XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1). Ichimoku Cloud continues moving downwards (2), Chinkou Lagging Span is below the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect support from Tenkan-Sen and Senkou Span B, and then a correction towards Senkou Span A and D Tenkan-Sen.

RoboForex Analytical Department

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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