Japanese Candlesticks Analysis 15.07.2021 (XAUUSD, NZDUSD, GBPUSD)

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the asset is still trading upwards. After forming several reversal patterns, such as Engulfing, not from the support level, XAUUSD may reverse and start a new growth to reach the resistance area at 1850.00. At the same time, an opposite scenario implies that the price may correct towards 1815.00 before resuming its ascending tendency.

NZDUSD, “New Zealand vs US Dollar”

As we can see in the H4 chart, the ascending impulse continues. By now, NZDUSD has formed several reversal patterns, such as Harami, close to the support level. The correctional target is the resistance area at 0.7100. After testing this level, the asset may break it and continue moving upwards. However, an alternative scenario implies that the price may fall towards 0.6995 before resuming its growth.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the asset is still trading within the uptrend. By now, GBPUSD has formed several reversal patterns, such as Harami, not far from the support area. At the moment, the pair may reverse and start a new growth towards the resistance level. In this case, the upside target may be at 1.3970. After testing this level, the market may break it and continue growing. Still, there might be an alternative scenario, according to which the asset may correct towards the support area at 1.3780 and then resume the ascending tendency.

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.