XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. After forming Shooting Star reversal pattern, XAUUSD is still testing the channel’s upside border and may reverse. The target of the pullback is at 1485.93. At the same time, we shouldn’t exclude a possibility that the instrument may break the border and continue moving upwards to update the high.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, NZDUSD is still trading close to the support level, where it has formed Harami pattern. Right now, the pair is moving sideways. In this case, it may be assumed that after completing its sideways movement, the price may reverse and grow towards the resistance line at 0.6555. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may complete the correction, break the support level at 0.6387, and continue falling.
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.