Japanese Candlesticks Analysis 25.01.2023 (XAUUSD, NZDUSD, GBPUSD)

By RoboForex.com

XAUUSD, “Gold vs US Dollar”

At the resistance level, gold has formed a Hanging Man reversal pattern. The pair is now going by the signal in a descending wave. The goal of the correction might be 1915.00. Upon testing the support level, the pair will get the chance for bouncing off it and continue the uptrend. However, the price may grow directly to 1945.50 without testing the support level.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, at the resistance level, the pair has formed a Shooting Star reversal pattern. The pair may now go by the signal in a descending wave. The goal of the pullback might be 0.6445. After a bounce off the support level, the pair might get the chance to continue the uptrend. However, the price may grow to 0.6550 without any correction.

GBPUSD, “Great Britain Pound vs US Dollar”

On H4, at the support level, the pair has formed a Hammer reversal pattern. The instrument may now go by the signal in an ascending wave. The goal of the growth might be the resistance level at 1.2430. However, the price may correct to 1.2275 and continue the uptrend after a 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.