Japanese Candlestick Analysis 05.08.2021 (GOLD, NZDUSD, GBPUSD)

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

The pair keeps correcting. At the support level, the pair has formed several reversal patterns, including a Doji and a Hammer. At this stage, going by the signal, the pair might continue growing. The aim of growth should be the resistance level of 1840.00. However, the price might pull back to 1800.00 before resuming growth.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, the quotations have tested the upper border of the channel. At the resistance level, the pair has formed several reversal patterns, including an Engulfing. Going by the pattern at this stage, the pair might correct. The aim of the pullback is the support level of 0.7000. Upon testing it, the price might bounce off and go on growing. However, the quotations might grow to 0.7110 right away, without testing the support level.

GBPUSD, “Great Britain Pound vs US Dollar”

On H4, the currency pair keeps correcting. At the support level, the pair has formed several reversal patterns, including a Hammer. Going by the signals, the pair might now find itself at the next resistance level. The aim of such a movement is 1.4000. Upon testing it, the quotations might break through and keep growing. However, the pair might drop to the support level of 1.3840 before further growth.

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.