21 Dec

Japanese Candlesticks Analysis 21.12.2021 (XAUUSD, NZDUSD, GBPUSD)

December 21, 2021

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 a Hammer reversal pattern not far from the support level, XAUUSD may reverse and continue forming its rising impulse. In this case, the upside target may be the resistance area at 1820.00. At the same time, an opposite scenario implies that the price may correct towards 1775.00 first and then resume trading upwards.

XAUUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand vs US Dollar”

As we can see in the H4 chart, NZDUSD has formed a Hammer reversal pattern close to the support area. At the moment, the asset may reverse in the form of a new correctional impulse towards the resistance level. In this case, the upside target may be at 0.6780. After that, the asset may rebound from the level and resume moving downwards. However, an alternative scenario implies that the price may continue falling to reach 0.6655 without any corrections towards the resistance level.

Free Reports:

Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter





Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.




NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD has formed an Engulfing reversal pattern near the support area. At the moment, the pair may reverse and start a new correctional wave. In this case, the upside correctional target may be at 1.3260. 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 1.3150 without any corrections towards the resistance level.

GBPUSD

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.


investmacro cot newsletter




Financial News Forex and Currency News