Japanese Candlesticks Analysis 24.06.2020 (GOLD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after testing the resistance level, XAUUSD has formed a Shooting Star pattern. Possibly, the pair may reverse and start a new pullback towards 1750.00. Later, the market may resume the ascending tendency to reach the resistance level at 1790.00.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, after forming several reversal patterns, such as Harami, not far from the support level, NZDUSD is still moving inside the rising channel. Possibly, the pair may reverse and start a new correction to reach the support level at 0.6400. However, an opposite scenario implies that the instrument may continue growing without correcting towards the above-mentioned support level.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after forming a Doji pattern while testing the support level, GBPUSD has started reversing. At the moment, the pair is expected to finish the correction and resume growing. The upside target is at 1.2665. Still, there is another scenario, which suggests that the instrument may continue the descending tendency towards the support level at 1.2345.