Analysis for May 13th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another below Kumo Cloud (1); both lines are directed downwards. Ichimoku Cloud is heading down (2) and widening, Chinkou Lagging Span is below the chart, and the price is below the lines. Short-term forecast: we can expect support from W Tenkan-Sen and resistance from D Kijun-Sen.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud and formed “Dead Cross” (1). Ichimoku Cloud is going down (2); Chinkou Lagging Span is rebounding from the chart to the downside. Short-term forecast: we can expect resistance from Kijun-Sen, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Ichimoku Cloud is moving downwards (2), Chinkou Lagging Span is rebounding from the chart downwards, and the price is inside Kumo, between Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect resistance from D Tenkan-Sen, and attempts of the price to stay under the cloud.
RoboForex Analytical Department