Japanese Candlesticks Analysis 23.03.2018 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after breaking the resistance level, XAUUSD is still moving upwards and right now is forming Shooting Star and Hanging Man reversal patterns. These patterns indicate possible slight pullbacks of the price before it resumes moving to the upside.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, NZDUSD has been corrected from the support level to the closest resistance one and formed several Hammer reversal patterns. Judging by the previous movements, it may be assumed that the pullback is over and the instrument may resume its ascending movement.
RoboForex Analytical Department
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.