Japanese Candlesticks Analysis 30.05.2018 (GOLD, NZDUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after reaching the support level, XAUUSD is still forming several Hammer, Inverted Hammer, and Doji reversal patterns. Judging by the previous movements, it may be assumed that after finishing a slight pullback the price may continue moving upwards.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, NZDUSD is trading sideways near the support level and forming Hammer, Inverted Hammer, and Engulfing reversal patterns.  Judging by the previous movements, at the moment it may be assumed that this sideways correction may later transform into a new uptrend.

RoboForex Analytical Department