Japanese Candlesticks Analysis 02.02.2023 (XAUUSD, NZDUSD, GBPUSD)

02.02.2023

XAUUSD, “Gold vs US Dollar”

At the resistance level, gold has formed a Shooting Start reversal pattern. The instrument may now go by the pattern in a descending wave. The goal of the correction might be 1942.50. Upon testing the support level, the price may bounce off it and continue the uptrend. However, the quotes may grow to 1970.50 without any correction.

XAUUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, at the resistance level, gold has formed a Shooting Start reversal pattern. The instrument may now go by the pattern in a descending wave. The goal of the correction might be 0.6495. Bouncing off the support level, the quotes might get the chance to continue the uptrend. However, the price may grow to 0.6585 without any pullback to the support.

NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

On H4, at the resistance level, gold has formed a Shooting Start reversal pattern. The instrument may now go by the pattern in a descending wave. The goal of the correction might be the support level of 1.2340. However, the price may grow to 1.2490 and continue the uptrend without pulling back to the support level.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.