Japanese Candlesticks Analysis 21.03.2023 (XAUUSD, NZDUSD, GBPUSD)

By RoboForex.com

XAUUSD, “Gold vs US Dollar”

Near the resistance, gold has formed a Shooting Star reversal pattern. Currently, the instrument might go by the reversal signal in a descending wave. The target of the decline might be 1960.00. Upon testing the support level, the pair might push off it and continue the uptrend. However, the quotes might grow directly to 2000.00 without any pullback.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, near the resistance, NZDUSD has formed a Harami reversal pattern. Currently, the instrument might go by the reversal signal in a descending wave. The target of the correction might be 0.6180. After a rebound from the support level, the quotes might continue the uptrend. However, the pair might rise to 0.6270 without testing the support.

GBPUSD, “Great Britain Pound vs US Dollar”

On H4, near the resistance level, GBPUSD has formed a Shooting Star reversal pattern. Currently, the instrument might go by the reversal signal in a descending wave. The target of the pullback might be 1.2200. However, the price might grow to 1.2325 and continue the uptrend without correcting to the support.

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.