Japanese Candlesticks Analysis 23.05.2024 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs USD”
XAUUSD has formed a Hammer pattern. Currently, the instrument may follow the reversal signal in an ascending wave. The growth target could be the 2425.00 resistance level. However, after testing the support, the price could pull back to 2345.00 before resuming its upward momentum.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Hammer reversal pattern on H4. The instrument is currently responding to the reversal signal in an ascending wave. The growth target could be the 0.6175 mark. However, the price has a chance of a correction to 0.6090 followed by further development of the upward trend.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Shooting Star reversal pattern on the H4. The instrument may now follow the reversal signal in a descending wave. The growth target could be the 1.2680 mark. However, the price could correct to 1.2800 and maintain its upward trajectory 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.