Article By RoboForex.com
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the uptrend continues. After finishing a Shooting Star pattern not far from the resistance level, XAUUSD has failed to reverse and right now is still moving upwards. In this case, the upside target may be at 1890.00. At the same time, an alternative scenario implies that the pair may correct towards 1850.00 after updating the highs.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the ascending tendency continues. After forming a Hanging Man pattern close to the channel’s upside border, NZDUSD has reversed and right now is updating its highs. Later, the market may continue growing to reach the next resistance level at 0.6725. Still, there is another scenario, which suggests that the instrument may correct towards the support area at 0.6650.
GBPUSD, “Great Britain Pound vs US Dollar”
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As we can see in the H4 chart, the pair is still forming the ascending channel. After forming a Shooting Star pattern close to the resistance level, GBPUSD has reversed. At the moment, the price is expected to continue trading upwards. In this case, the upside target remains at 1.2800. However, there might be another scenario, according to which the price may fall to return to 1.2657.
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.
