Japanese Candlesticks Analysis 08.12.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could remain at 2070.00. Upon testing the resistance, the price might break it and continue developing the uptrend. However, the quotes could pull back to 2005.00 before rising.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 0.6255. Upon breaking the resistance, the quotes might continue the uptrend. However, the price could correct to the 0.6115 level and develop an uptrend once the test of the support is over.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 1.2700. However, the price might pull back to 1.2535 and extend the uptrend upon testing the support.
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.