Article By RoboForex.com
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after testing the channel’s downside border, XAUUSD has formed several reversal patterns, such as Doji. At the moment, the pair is reversing. In this case, the upside target may be at 1750.00. At the same time, the instrument may choose an opposite scenario and continue trading upwards only after the correction towards 1680.00.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the price is still moving inside the rising channel. After finishing an Engulfing pattern, NZDUSD is reversing. In this case, the upside target may be at 0.6188. Still, one shouldn’t exclude another scenario, which says that the instrument may continue the ascending tendency only after finishing the correction towards 0.6065.
GBPUSD, “Great Britain Pound vs US Dollar”
Free Reports:
Get Our Free 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.
As we can see in the H4 chart, after testing the channel’s downside border, GBPUSD has formed several reversal patterns, such as Inverted Hammer. At the moment, the pair is moving inside the rising channel and reversing. Later, the market may resume the ascending tendency with the target at 1.2555. However, there is another scenario, which implies that the instrument may correct towards 1.2400 before resuming its growth
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.
