Analysis for September 7th, 2011
GBP/USD
GBPUSD, Time Frame Н4 - Tenkan-Sen and Kijun-Sen intersected forming “Dead Cross” (1), Tenkan-Sen and Kijun-Sen are horizontal. Ichimoku Cloud is going down (2), Senkou Spans A and B are also horizontal. Chinkou Lagging Span is below the chart and is far away from it, the price is still below Tenkan-Sen. In the near term, we can expect the price to try breaking Tenkan-Sen and fix itself in the channel between Tenkan-Sen and Kijun-Sen.
GBPUSD, Time Frame Н1 - Tenkan-Sen and Kijun-Sen intersected forming “Dead Cross” (1), Tenkan-Sen is directed upwards, and Kijun-Sen is going down. Kumo Cloud is going down (2), leading Senkou Span A is falling, and Senkou Span B is horizontal. Chinkou Lagging Span is below the chart, the price is in the channel between Tenkan-Sen and Kijun-Sen. In the near term, we can expect support of Tenkan-Sen and the price to grow up to Senkou Span A.
USD/CAD
USDCAD, Time Frame Н4 - Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Golden Cross” (1), Tenkan-Sen and Kijun-Sen are horizontal. Kumo Cloud has changed the direction and now is going up (2), Senkou Spans A and B are also horizontal. Chinkou Lagging Span is above the chart and is away from it, the price is in the channel between Tenkan-Sen and Kijun-Sen. In the near term, we can expect the price to fall down to Kijun-Sen.
USDCAD, Time Frame Н1 - Tenkan-Sen and Kijun-Sen intersected “Dead Cross”, Tenkan-Sen is directed downwards, and Kijun-Sen is horizontal. Kumo Cloud is going down, Senkou Span A is moving downwards, and Senkou Span B is horizontal. Chinkou Lagging Span is below the chart, the price is below Tenkan-Sen. In the near term, we can expect resistance of Tenkan-Sen and the price to fall down inside Kumo Cloud to Senkou Span B.