It is in binary form.

A [a (measures 1-4) + a1 (measures 5-8)]

B [b (measures 9-12) + Coda (measures 13-16)]

The key is G major. The theme spans measures 1-4; the left hand repeats in thirds, while the right hand's double stops change from a perfect fifth to an augmented fourth. A characteristic feature is the right hand's double stops leaping up an octave. The left hand carries the main melody, and the right hand provides accompaniment. Expression through harmonic resolution is sparse; instead, the music possesses a flowing, horizontal quality due to repetitive progressions. For instance, measures 7-8 can be analyzed as a double dominant from C# in the right hand, but this is not resolved harmonically in the subsequent phrase; instead, it progresses chromatically through repetition.

In the b section, the left hand effectively moves in two voices, ascending chromatically, while the right hand performs a distinct, different motion. Thus, a three-voice polyphonic structure can be inferred. This musical structure, combined with the work's title, evokes the ever-changing nature of clouds.