XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. The pair has tested the channel’s upside border and formed Shooting Star reversal pattern; right now, it is moving downwards and may reach 1291.00. Also, we can see another reversal pattern, Hammer, which may indicate that the correction is over and the price may trade towards 1307.00 without reaching the support level to continue the uptrend.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, NZDUSD has been trading downwards for quite a long time. It has formed Shooting Star pattern close to the channel’s upside border, which resulted in a rebound and a new descending impulse. Right now, it may be assumed that the instrument may trade to reach its key target at 0.6534.
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.