Japanese Candlesticks Analysis 09.06.2022 (XAUUSD, NZDUSD, GBPUSD)

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD has formed a Hammer reversal pattern not far from the support area. At the moment, the asset is reversing in the form of a new ascending impulse. In this case, the upside target may be the resistance level at 1885.50. At the same time, an opposite scenario implies that the price may correct to reach 1843.00 before resuming the ascending tendency.

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 ascending impulse. In this case, the upside target may be at 0.6565. 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 0.6415 first and then resume its growth.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD has formed a Harami reversal pattern near the resistance level. At the moment, the pair is reversing in the form of a new descending impulse. If the price breaks the support area, it may continue falling. In this case, the downside target may be at 1.2400. Still, there might be an alternative scenario, according to which the asset may correct to reach 1.2600 before resuming the downtrend.

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.