Japanese Candlesticks Analysis 22.07.2022 (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 reversal pattern not far from the resistance area. At the moment, the asset may reverse in the form of a new correctional impulse. In this case, the downside correctional target may be the support level at 1650.00. At the same time, the opposite scenario implies that the price may continue growing to reach 1740.00 without any pullbacks.

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 another ascending impulse. In this case, the upside target may be at 0.6290. After that, the asset may break the resistance level and continue moving upwards. However, an alternative scenario implies that the price may fall to reach 0.6190 before resuming its growth towards the resistance level.

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 may reverse in the form of a new descending impulse. In this case, the downside target may be the support area at 1.1845. Later, the market may break this level and continue falling. Still, there might be an alternative scenario, in which the asset may correct to reach the resistance level at 1.2055 first and then resume the descending tendency.

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.