Ichimoku Cloud Analysis 08.09.2011 (GBP/USD, USD/CAD)

Analysis for September 8^th, 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 continue moving downwards and try to fix itself above Tenkan-Sen.



GBPUSD, Time Frame Н1 – Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Dead Cross” (1), Tenkan-Sen is directed downwards, and Kijun-Sen is horizontal. 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 below Tenkan-Sen. In the near term, we can expect resistance of Tenkan-Sen and the price to grow up to Kijun-Sen and Senkou Span A.

USD/CAD

USDCAD, Time Frame Н4 - Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Golden Cross” (1), Tenkan-Sen is directed downwards, and Kijun-Sen is horizontal. Kumo Cloud has changed the direction and now is going up (2), leading Senkou Span A is directed upwards, and Senkou Span B is horizontal. Chinkou Lagging Span is above the chart, the price is in the channel between Tenkan-Sen and Kijun-Sen. In the near term, we can expect resistance of Tenkan-Sen and the price to try breaking support of Senkou Span B.



USDCAD, Time Frame Н1 - Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Golden Cross” again, Tenkan-Sen is directed upwards, and Kijun-Sen is horizontal. Kumo Cloud is falling, leading Senkou Span A is moving upwards, 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 resistance of Kijun-Sen.