Japanese Candlesticks Analysis 17.11.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Shooting Star reversal pattern. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be 1970.00. Upon testing the support, the quotes might rebound from this level and continue developing the ascending wave. However, the quotes could rise to 2010.00 without any correction.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 0.6045. Upon breaking the resistance, the quotes might get a chance for extending the uptrend. However, a correction to 0.5925 is not excluded, followed by an uptrend developing upon testing the support.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 1.2360. However, the price could rise to 1.2500 and extend the uptrend 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.