Japanese Candlesticks Analysis 29.03.2022 (XAUUSD, NZDUSD, GBPUSD)

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD has formed a Harami pattern not far from the support area. At the moment, the asset is reversing in the form a new ascending impulse. In this case, the upside target may be the resistance level at 1970.00. At the same time, an opposite scenario implies that the price may correct to reach 1905.00 before resuming the uptrend.

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 is reversing and may form another rising impulse. In this case, the upside target is at 0.6970. After that, the asset may break the resistance level and continue moving upwards. However, an alternative scenario implies that the price may correct to reach 0.6865 first and then resume its ascending tendency.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD has formed several reversal patterns, such as Harami, near the support area. At the moment, the pair is reversing and may form a new ascending impulse. In this case, the upside target may be at 1.3180. 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 1.3010 without any pullbacks.

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.