Japanese Candlesticks Analysis 08.09.2022 (XAUUSD, NZDUSD, GBPUSD)

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

At the support level, Gold has formed yet another reversal pattern Hammer. Currently, the pair is going by the pattern in an ascending impulse. The goal of the correction can be 1725.50. However, the quotes might fall to 1680.50 and continue the decline without testing the resistance level.

NZDUSD, “New Zealand vs US Dollar”

On H4, at the support level, the pair has formed a Hammer. Going by the signal of the reversal candlestick pattern, the pair can form an ascending impulse. The goal of the growth can be 0.6115. After a bounce off the resistance level, the quotes might continue the downtrend. However, the price may still fall to 0.5970 without correcting to the resistance level.

GBPUSD, “Great Britain Pound vs US Dollar”

On H4, at the support level, the pair has formed an Engulfing reversal pattern. Going by it, the pair may currently demonstrate an ascending impulse. The goal of growth might be the resistance level of 1.1600, and next if the price bounces off it, it will have a chance to continue falling. However, it may fall to the support level of 1.1350 without testing the resistance.

Article By RoboForex.com

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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.