XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. The pair has formed Hammer pattern near the channel’s downside border and rebounded from it. Right now, it is testing the horizontal resistance level. If the pair breaks it, the instrument may move to reach the next target at 1355.55. At the same time, we shouldn’t exclude an opposite scenario, which implies that the price reverse and resume moving downwards with the target at 1322.11.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, NZDUSD is finally trading upwards. After finishing another correctional wave and testing the support line of the rising channel, NZDUSD has formed Hammer reversal pattern at 0.6530. If the price reverses, it may grow towards 0.6575, thus continuing the rising channel. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may move downwards and reach the target at 0.6500.
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.