Analysis for August 29th, 2014
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD, Time Frame H4. Tenkan-Sen and Kijun-Sen formed “Golden Cross” (1) below Kumo. Ichimoku Cloud is going down, Chinkou Lagging Span is on the chart, and the price is on Tenkan-Sen. Short‑term forecast: we can expect support from Tenkan-Sen – Kijun-Sen, and attempts of the price to stay inside the cloud.
GBPUSD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Golden Cross” above Kumo (1). Ichimoku Cloud is closed (2), and Chinkou Lagging Span is on the chart. Short‑term forecast: we can expect resistance from H4 Senkou Span A, support from Senkou Span A, and growth of the price.
XAUUSD, “Gold vs US Dollar”
XAUUSD, Time Frame H4. Tenkan-Sen and Kijun-Sen formed “Golden Cross” below Kumo (1). Ichimoku Cloud is going down (2), Chinkou Lagging Span is above the chart, and the price is inside Tenkan-Sen – Kijun-Sen channel. Short-term forecast: we can expect support from D Tenkan-Sen – Kijun-Sen, and attempts of the price to stay inside the cloud.
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