Japanese Candlesticks Analysis 05.04.2021 (GOLD, NZDUSD, GBPUSD)

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

The pair is completing a correction. AT the resistance level, gold has formed several reversal patterns including a Doji. Going by the reversal patterns, the price might continue the downtrend, aiming at 1700.00. However, the quotations might sill grow to 1735.00, skipping the reversal patterns.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, the pair keeps developing a correction. At the resistance level, the pair has formed several reversal patterns, including the Engulfing pattern. The aim of the decline is 0.6915. After testing the support level, the pair might break through the level and go on declining. However, the quotations might still grow to 0.7070, skipping the reversal patterns.

GBPUSD, “Great Britain Pound vs US Dollar”

On H4, the pair is completing a correction in a downtrend. At the resistance line, the pair has formed several reversal patterns, including the Engulfing pattern. Going by the patterns, the pair might currently continue the descending impulse, aiming at 1.3730. Then, breaking through the support level, the quotations might enforce the descending dynamics. However, the price might grow to 1.3880 before further falling.

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.