Article By RoboForex.com
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the pair is finishing the correction within the rising tendency. After forming another Hammer pattern not far from the support area, XAUUSD may reverse and move towards the next upside target at the resistance area at 1945.00. At the same time, an opposite scenario implies that the price may start another decline with the target at 1900.00 before resuming the uptrend.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the correction continues. After forming several reversal patterns, such as Harami, at the top of the correction, NZDUSD may reverse and resume moving downwards. The next downside target may be the support area at 0.6515. Still, an alternative scenario says that the pair may continue trading upwards to reach 0.6710 before resuming the descending tendency.
Free Reports:
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, the uptrend continues. By now, GBPUSD has formed several reversal patterns, such as Harami, not far from the support area. At the moment, the pair is reversing and may correct to reach the target at 1.3000. However, there might be another scenario, according to which the price may continue growing towards 1.3220 without reversing and correcting.
Article By RoboForex.com
Attention!
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.
- The British index has updated the historical maximum. Oil lost 5% over the week May 3, 2024
- US Fed tilts towards a rate cut despite the postponement. HKMA left the rate unchanged at 5.75% May 2, 2024
- Brent crude oil hits seven-week low May 2, 2024
- Target Thursdays: USDJPY, Copper & EURCAD May 2, 2024
- WTI oil declines on rising inventories and negotiations between Israel and Hamas. Rising unemployment in New Zealand may force RBNZ to start cutting rates earlier May 1, 2024
- Bitcoin stumbles below $60k ahead of Fed May 1, 2024
- Expert Says Now Looks Like a Good Time To Buy This Renewable Energy Stock Apr 30, 2024
- Optimism over corporate earnings is fueling stock indices. The Hong Kong index reached a 5-month high Apr 30, 2024
- FXTM’s Copper: Hits fresh two-year high! Apr 30, 2024
- European indices grow on the ECB’s “dovish” position. Quarterly reports of mega-companies support the broad market Apr 29, 2024