Japanese Candlesticks Analysis 01.09.2020 (GOLD, NZDUSD, GBPUSD)

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

XAUUSD keeps developing an uptrend, working off the signal of a Hammer reversal pattern. At the moment, the quotations have returned into the ascending channel. The aim of growth is near 2030.00. However, the price may still decline to 1935.00.

NZDUSD, “New Zealand vs. US Dollar”

On H4, the pair keeps developing an uptrend. Near the resistance line, the pair has formed several reversal patterns, including a Shooting star. As long as the ascending impulse is so strong, working off the signals of the patterns may entail a small correction before the growth resumes. The goal of the growth is currently 0.6800 where the next resistance level lies.

GBPUSD, “Great Britain Pound vs US Dollar”

On H4, the uptrend keeps developing. The pair broke away the resistance level and escaped the ascending channel. Then a small correction might follow, after which the quotations will resume the growth. The next goal of the developing uptrend is 1.3485. However, the quotations may still decline to 1.3265.

Article By RoboForex.com

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.