Japanese Candlesticks Analysis 01.02.2024 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 2060.50. Upon testing the resistance, the price could break it and continue with the uptrend. However, the quotes might pull back to 2030.00 before growing.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Gravestone Doji reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The decline target could be 0.6075. Once the support is breached, the quotes might get a chance for extending the downtrend. However, the price could correct to 0.6160 and develop a downtrend after the test of the resistance.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target might be 1.2785. However, the quotes could correct to 1.2630 and extend the uptrend upon testing the support.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.