XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the pair is still correcting withing the rising tendency. After finishing several reversal patterns, such as Hammer, XAUUSD continues trading not far from the support area. Possibly, the price may reverse and start a new growth towards 2000.00. At the same time, an opposite scenario implies that the price may fall with the target at 1925.00.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the price continues correcting within the uptrend; right now, the pair is trading close to the channel’s downside border where it may form several reversal patterns. Possibly, NZDUSD may rebound from the support area and resume growing to reach the resistance level at 0.6765. Still, an alternative scenario says that the instrument may break the channel’s downside border and continue falling towards 0.6635.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, the pair is still correcting within the downtrend; by now, it has formed a Doji pattern. Considering that the Pound is losing positions quickly, it is expected to finish the correction and may continue falling in the future. The downside target is at 1.2695. However, there might be another scenario, according to which the price may start a new pullback towards 1.3075 without reversing.
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.