Ichimoku Cloud Analysis 01.09.2011 (GBP/USD, USD/CAD)

Analysis for September 1^st, 2011

GBP/USD

GBPUSD, Time Frame Н4 - Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Dead Cross” (1), Kijun-Sen is horizontal, Tenkan-Sen is directed downwards. Ichimoku Cloud is going down (2), Senkou Span B is also horizontal, and Senkou Span A is going down. Chinkou Lagging Span is below the chart and is moving away from it, the price is below Tenkan-Sen. In the near term, we can expect the price to continue moving down while trying to get back into the channel between Tenkan-Sen and Kijun-Sen.



GBPUSD, Time Frame Н1 - Tenkan-Sen and Kijun-Sen intersected forming “Dead Cross” (1) and are directed downwards. Kumo Cloud is going down (2), leading Senkou Spans A and B are also directed downwards. Chinkou Lagging Span is below the chart, away from it, and is also directed downwards. The price is below Tenkan-Sen. In the near term, we can expect resistance of Tenkan-Sen, decline of price, and attempt to reach Kijun-Sen.

USD/CAD

USDCAD, Time Frame Н4 - Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Dead Cross” (1), Kijun-Sen is horizontal, Tenkan-Sen is directed downwards. The descending Ichimoku Cloud is widening (2), Senkou Spans A and B are falling. Chinkou Lagging Span is below the chart and is moving toward it. In the near term, we can expect support of Tenkan-Sen and resistance of Kijun-Sen.



USDCAD, Time Frame Н1 - Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Golden Cross” (1) and are horizontal. Ichimoku Cloud is going down, Senkou Spans A and B are also horizontal. Chinkou Lagging Span is on the chart and crossed black candlestick in upward direction. In the near term, we can expect the price to try to leave the cloud.