Japanese Candlesticks Analysis 17.11.2022 (XAUUSD, NZDUSD, GBPUSD)

By RoboForex.com

XAUUSD, “Gold vs US Dollar”

At the resistance level, the instrument has formed a Shooting Star reversal pattern. Currently, the pair is following the signal, forming another correctional wave. The goal of the pullback might be 1742.50. After a test of the support level, the price may bounce off it and continue the uptrend. However, the price may grow to 1785.50, skipping the reversal signal altogether.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, at the resistance level, the pair has formed a Shooting Star reversal pattern. Currently, the pair may go by the signal in a correctional wave. The goal of the pullback might be 0.6075. After a bounce off the support level, the quotes will get a chance for continuing the uptrend. However, the price may grow to 0.6220 without testing the support.

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 might be the support level of 1.1820. In case the price bounces off it, the price will have a chance for continuing the uptrend. However, the price may grow to 1.2045 without correcting to the support.

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.