Article By RoboForex.com
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the asset continues testing the support level, where it has formed several reversal patterns, such as Harami. At the moment, XAUUSD may reverse and start a new decline to reach the support area at 1746.50. At the same time, an opposite scenario implies that the price may correct towards 1795.00 before resuming the descending tendency.
NZDUSD, “New Zealand vs US Dollar”
As we can see in the H4 chart, the correctional impulse continues. By now, NZDUSD has formed several reversal patterns, such as Inverted Hammer, close to the support level. At the moment, the pair is reversing and may later grow towards the resistance area at 0.7117. After testing this level, the asset may rebound and resume moving downwards. However, an alternative scenario implies that the price may continue falling towards 0.6965 without testing the resistance area.
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GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, the asset is correcting within the downtrend. By now, GBPUSD has formed several reversal patterns, such as Hammer, not far from the support area. At the moment, the pair may reverse and start a new pullback. In this case, the correctional target may be the resistance level at 1.4030. After testing it, the market may rebound and resume falling with the target at 1.3855.
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.
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