Japanese Candlesticks Analysis 05.06.2024 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Hammer pattern. The instrument is currently following the reversal signal in an ascending wave. The growth target could remain at 2400.00. After testing the resistance level, the price could break above it and continue its upward momentum. However, the quotes could correct to 2305.00 before rising.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Shooting Star reversal pattern on H4. The instrument is currently following the reversal signal in a descending wave. The target for correction could be 0.6165. After testing the support level, the quotes might continue the uptrend. However, the price could rise to 0.6225 without a pullback.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Hanging Man reversal pattern on H4. The instrument is currently following the reversal signal in a descending wave. The target for correction could be 1.2725. However, the price might rise to 1.2860 and maintain its upward trajectory without testing the support level.
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.