Article By RoboForex.com
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after forming a Long-Legged Doji reversal pattern not far from the support level, XAUUSD is reversing and may continue forming its rising impulse. In this case, the upside target is the resistance area at 1830.00. At the same time, an opposite scenario implies that the price may correct to reach 1795.00 first and then resume its ascending tendency.
NZDUSD, “New Zealand vs US Dollar”
As we can see in the H4 chart, NZDUSD has formed a Hammer reversal pattern. At the moment, the asset is reversing and may form a new correctional impulse towards the resistance level. In this case, the upside target is at 0.6635. After that, the asset may rebound from this level and resume moving downwards. However, an alternative scenario implies that the price may fall to reach 0.6530 and continue its downtrend without forming any corrections.
Free Reports:
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.
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD has formed an Inverted Hammer reversal pattern near the support area. At the moment, the pair is reversing in the form of a new ascending impulse. In this case, the upside target may be at 1.3495. 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 fall to reach 1.3330 without testing the channel’s upside border.
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.
- COT Metals Charts: Speculator Changes led lower by Gold & Platinum Nov 17, 2024
- COT Bonds Charts: Large Speculator bets led by 2-Year & Ultra Treasury Bonds Nov 17, 2024
- COT Soft Commodities Charts: Large Speculator bets led by Corn & Soybean Oil Nov 16, 2024
- COT Stock Market Charts: Speculator Bets led by MSCI EAFE & VIX Nov 16, 2024
- The Dollar Index strengthened on Powell’s comments. The Bank of Mexico cut the rate to 10.25% Nov 15, 2024
- EURUSD Faces Decline as Fed Signals Firm Stance Nov 15, 2024
- Gold Falls for the Fifth Consecutive Trading Session Nov 14, 2024
- Profit-taking is observed on stock indices. The data on wages in Australia haven’t met expectations Nov 13, 2024
- USD/JPY at a Three-Month Peak: No One Opposes the US Dollar Nov 13, 2024
- Can Chinese Tech earnings offer relief for Chinese stock indexes? Nov 13, 2024
