Japanese Candlesticks Analysis 16.09.2021 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the correctional wave continues. After forming several reversal patterns, such as Harami, not far from the resistance level, XAUUSD may reverse and continue the pullback. In this case, the downside target may be the support area at 1775.00. At the same time, an opposite scenario implies that the price may grow towards 1815.00 without testing the support area.

NZDUSD, “New Zealand vs US Dollar”

As we can see in the H4 chart, after testing the support area, NZDUSD has formed several reversal patterns, such as Hammer. At the moment, the asset is reversing in the form of a new growth. In this case, the upside target remains the resistance level at 0.7190. After testing this level, the asset may break it and continue moving upwards. However, an alternative scenario implies that the price may correct to reach 0.7050 first and then resume growing.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the asset is forming another correctional wave towards the channel’s downside border. By now, GBPUSD has formed several reversal patterns, such as Hammer, not far from the support level. At the moment, the pair is reversing in the form of a pullback. In this case, the upside target may be at 1.3900. After testing this level, the market may break it and continue growing. Still, there might be an alternative scenario, according to which the asset may correct towards 1.3780 before resuming its ascending tendency.