Japanese Candlesticks Analysis 12.01.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
At the support level, Gold has formed a Hammer reversal pattern. Now it is going by the signal in an ascending wave. The goal of the growth is still 1900.00. Upon testing the resistance level, the pair will get a chance for breaking through it and continuing the uptrend. However, the quotes may pull back to 1870.00 before continuing growth.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, at the resistance level the pair has formed a Hanging Man reversal pattern. Currently, the pair may go by the signal in a descending wave. The goal of the pullback may be 0.6325. Upon bouncing off the support level, the quotes might get a chance for continuing the uptrend. However, the price may grow to 0.6470 without pulling back to the support level.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, at the resistance level, the pair has formed a Harami reversal pattern. The pair may now go by the signal in a descending wave. The goal of the correction is the support level of 1.2060. However, the price may grow to 1.2255 and continue the uptrend 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.