Japanese Candlesticks Analysis 21.12.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Hammer pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might remain at 2065.00. Upon testing the resistance, the price could break it and continue developing the uptrend. However, the quotes might pull back to 2010.00 before rising.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Hanging Man reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 0.6220. After a rebound from the support, the quotes might extend the uptrend. However, the price could grow to 0.6315 and develop the uptrend without testing the support level.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target might be 1.2780. However, the price could pull back to 1.2600 and continue 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.