Japanese Candlesticks Analysis 11.12.2020 (GOLD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold is completing a correction of the ascending dynamics. At the support level, it has formed a Harami. Currently, the resistance pattern can drive the price upwards, to the resistance level. The aim is at 1880.00. However, the quotations might still return to 1820.00 before resuming growth.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, the pair renewed the highs again. Currently, the pair is working off the signal from a reversal Hammer pattern, formed at the lower border of the channel. The aim of further growth after the correction is the resistance level at 0.7165. However, the price might still pull back to 0.7000 before resuming growth.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the pair is completing a correction of the uptrend. At the horizontal support level, the pair has formed several reversal patterns, including a Hammer, and started working off the signals from the candlestick patterns. The aim of further growth remains at 1.3480. Then the quotations might break through the upper border of the channel and resume the ascending dynamics. However, the price might still return to 1.3260 before further growth.
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.