Japanese Candlesticks Analysis 25.09.2020 (GOLD, NZDUSD, GBPUSD)

25.09.2020

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the pair is testing the channel’s downside border. By now, XAUUSD has formed several reversal patterns, such as Inverted Hammer, not far from the support area. Later, the price is expected to reverse and form a slight pullback towards 1895.00, which may be followed by further decline with the target at 1837.00. At the same time, an opposite scenario implies that the price may return to 1900.00.

XAUUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, after completing a quick decline, NZDUSD is trading close to the horizontal support level and has already formed several reversal patterns, including Engulfing. Possibly, the pair may rebound from the support area and correct for a while to reach 0.6595 before further decline. In this case, the downside target will be the support level at 0.6456.

NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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 several reversal patterns, such as Hammer. Considering that the Pound is losing positions quickly, it is expected to reverse and form a slight correction, which may be followed by further decline. In this case, the downside target will be at 1.2585. However, there might be another scenario, according to which the price may start a new pullback towards 1.2965.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.