Japanese Candlesticks Analysis 20.01.2023 (XAUUSD, NZDUSD, GBPUSD)

By RoboForex.com

XAUUSD, “Gold vs US Dollar”

At the resistance level, gold has formed a Shooting Star reversal pattern. The pair is currently going by the pattern in a descending wave. The goal of the correction might be 1915.00. Upon testing the support level, the pair may bounce off it and continue the uptrend. However, the quotes may grow to 1945.00 without testing the support level.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, at the support level, the pair has formed a Hammer reversal pattern. Currently, the pair is going by the signal in an ascending wave. The goal of the growth might be 0.6485. After this resistance level is broken away, the quotes might get a chance to continue the uptrend. However, the price may pull back to 0.6370 before growth.

GBPUSD, “Great Britain Pound vs US Dollar”

On H4, at the resistance level, the pair has formed a Harami reversal pattern. The pair may now go by the signal in a descending wave. The goal of the correction might be the support level of 1.2310. However, the price may grow to 1.2500 and continue the uptrend without any pullback to the support level.

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.