Japanese Candlesticks Analysis 25.02.2021 (GOLD, NZDUSD, GBPUSD)

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the rising impulse continues. After forming several reversal patterns, such as Hammer, close to the horizontal support level, XAUUSD is reversing and may later resume growing towards the resistance area. In this case, the upside target will be at 1830.00. At the same time, an opposite scenario implies that the price may continue its decline towards 1760.00 before further growth.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, the pair is correcting within the uptrend again. By now, NZDUSD has formed several reversal patterns, such as Harami, close to the resistance level. The correctional target may be the support area at 0.7370. However, an alternative scenario implies that the price may continue its growth towards 0.7520 without reversing and correcting.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the asset is forming another wave within the uptrend. Right now, after forming several reversal patterns, such as Harami, not far from the resistance area, GBPUSD may correct and reach the support area at 1.4020. After that, the instrument may rebound from this level and resume moving upwards to reach the upside target at 1.4300.

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.