Japanese Candlesticks Analysis 30.11.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Hanging Man pattern. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be 2030.00. Upon testing the support, the price might rebound from this level and continue developing the uptrend. However, the quotes could rise to 2070.00 without any correction.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Doji reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 0.6135. Upon testing the support and rebounding from it, the quotes could continue the uptrend. However, the quotes might rise to 0.6235 and develop the uptrend without testing the support.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD 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 1.2620. However, the price might rise to 1.2775 and extend the uptrend without testing the support level.
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.