Japanese Candlesticks Analysis 30.11.2021 (XAUUSD, NZDUSD, GBPUSD)

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the asset is forming the rising wave. After forming a Hammer reversal pattern not far from the support level, XAUUSD may reverse and form a new rising impulse. In this case, the upside target may be the resistance area at 1825.00. At the same time, an opposite scenario implies that the price may fall towards 1780.00 first and then resume trading upwards.

NZDUSD, “New Zealand vs US Dollar”

As we can see in the H4 chart, NZDUSD has formed several reversal patterns, such as Hammer, close to the support area. At the moment, the asset is reversing in the form of a new growth towards the resistance level. In this case, the upside target may be at 0.6830. After that, the asset may rebound from this level and resume moving downwards. However, an alternative scenario implies that the price may continue falling to reach 0.6730 without reversing and correcting.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD continues trading sideways not far from the support area, where it has formed several reversal patterns, for example, Hammer. At the moment, the pair may reverse and start a new correctional impulse. In this case, the upside target may be at 1.3380. After testing the resistance level, the market may rebound from it and resume trading downwards. Still, there might be an alternative scenario, according to which the asset may continue falling to reach 1.3230 without testing the resistance level.

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.