XAUUSD, “Gold vs US Dollar”
Near the resistance level, gold has formed a Hanging Man reversal pattern. Currently, if the pair goes by the signal, it may result in another correctional wave. The goal of the pullback will be 1690.00. Upon testing the support level, the price may bounce off it and continue the uptrend. However, the quotes may grow to 1735.00, skipping the reversal signal altogether.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, at the resistance level the pair has formed a Hanging Man reversal pattern. Currently, the pair may go by the reversal signal in the form of a descending wave. The goal of the correction will be 0.5890. After a bounce off the support level, the quotes might get a chance to continue the uptrend. However, the price may still grow to 0.6000 without the pullback.
Free Reports:
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, at the resistance level, the pair has formed a Hanging Man reversal pattern. Currently, the pair may go by the signal in a descending wave. The goal of the correction may be the support level of 1.1460. If the price bounces off it, it will have a chance for further growth. However, the price may grow outright to 1.1675 without correction.
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.
- Stock indices have hit all-time highs. The Australian labor market is starting to cool down May 16, 2024
- Target Thursdays: USDInd, Soybean & EU50 hit targets! May 16, 2024
- JPY has sharply strengthened May 16, 2024
- PBoC kept the interest rate unchanged. The US stock indices rise despite rising manufacturing inflation May 15, 2024
- Meme-stock mania: Will GameStop, AMC stocks surge even higher? May 15, 2024
- Euro climbs to five-week high ahead of US CPI data May 15, 2024
- Australia will release its annual budget today. Rising inflation expectations hurt US stock indices May 14, 2024
- JPY declines again May 14, 2024
- Trade of the Week: CHINAH to extend lead as Asia’s winner? May 13, 2024
- The German index has hit an all-time high. China sees rising consumer inflation May 13, 2024