Japanese Candlesticks Analysis 09.02.2024 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Hammer pattern. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target might be 2050.00. Upon testing the resistance, the price could break it and continue developing the uptrend. However, the quotes might pull back to 2025.00 before growth.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Harami reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The decline target might be 0.6070. Upon breaking the support, the quotes could continue the downtrend. However, the price might correct to 0.6160 before falling.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Hammer pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be 1.2670. However, the quotes could drop to 1.2570 and extend the downtrend without 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.