Japanese Candlesticks Analysis 19.01.2024 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Doji reversal pattern. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be the 2005.00 level. After a test of the support, the price could rebound from this level and continue developing the uptrend. However, the quotes could rise to 2045.00 without pulling back to the support.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target might be the 0.6140 level. After a rebound from the support, the quotes might continue the downtrend. However, the price could drop to 0.6055 and develop the downtrend without any correction.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed an engulfing reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 1.2750. However, the quotes could correct to 1.2660 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.