Article By RoboForex.com
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD has formed a Long-Legged Doji reversal pattern not far from the resistance area. At the moment, the asset is reversing in the form of another correctional impulse. In this case, the downside correctional target may be the support level at 1965.00. At the same time, an opposite scenario implies that the price may grow to reach 1995.00 and continue the ascending tendency without correcting and testing the support level.
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 in the form of a new ascending impulse. In this case, the upside target is at 0.6785. After that, the asset may rebound from the resistance level and resume moving downwards. However, an alternative scenario implies that the price may fall to reach 0.6685 without any corrections.
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GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD has formed a Hammer reversal pattern 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 1.3045. 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 1.2935 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.
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