Japanese Candlesticks Analysis 29.09.2022 (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 descending impulse. In this case, the downside target may be at 1615.00. At the same time, the opposite scenario implies that the price may correct to reach 1660.50 first and then resume the downtrend.

NZDUSD, “New Zealand Dollar vs US Dollar”

As we can see in the H4 chart, NZDUSD has formed a Hammer reversal pattern close to the support level. At the moment, the asset is reversing in the form of a correctional wave. In this case, the upside correctional target may be at 0.5750. After that, the asset may rebound from the resistance area and resume moving downwards. However, an alternative scenario implies that the price may fall to reach 0.5560 without any pullbacks.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD has formed a Harami reversal pattern near the support level. At the moment, the pair is reversing in the form of a new rising impulse. In this case, the upside target may be the resistance area at 1.0970. Later, the market may rebound from this level and resume falling. Still, there might be an alternative scenario, in which the asset may continue falling to reach the support level at 1.0470 without testing the resistance area.

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.