Japanese Candlesticks Analysis 27.07.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Shooting Star reversal pattern near the resistance level. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 1965.50. Upon testing the support, the price might rebound and continue the uptrend. However, the quotes could rise to 1990.00 without a correction.
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 growth target might be 0.6300. Upon breaking the resistance, the quotes might have a chance to continue the uptrend. However, a correction to 0.6190 might develop and an uptrend might follow the pullback.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 1.3055. However, the price might correct to 1.2895 and continue the uptrend following the pullback.
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.