Japanese Candlesticks Analysis 20.09.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Shooting Star reversal pattern near the support level. Currently, the instrument is going by the reversal signal in a descending wave. The pullback target could be 1923.00. Upon testing the support, the price might rebound from the level and continue the uptrend. However, the quotes could rise to 1945.00 without any pullback.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target could be 0.5975. After a rebound from the resistance, the quotes might continue the downtrend. However, the price could drop to 0.5915 and develop the downtrend without testing the resistance.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target might be 1.2295. However, the price could correct to 1.2410 and extend the downtrend after the pullback to the resistance.
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.