Japanese Candlesticks Analysis 26.03.2021 (GOLD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the sideways tendency continues. After forming several reversal patterns, such as Hammer, close to the support level, XAUUSD may reverse and resume growing towards the resistance area. In this case, the upside target may be at 1780.00. At the same time, an opposite scenario implies that the price may correct to reach 1715.00 before resuming its growth.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, the pair is still correcting. By now, NZDUSD has formed several reversal patterns, such as Doji, close to the support level. The correctional target may be at 0.7100. Later, the price may test the resistance area, rebound from it, and resume moving downwards. However, an alternative scenario implies that the price may fall towards 0.6916 without reversing and correcting.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the asset is forming a correctional wave. By now, GBPUSD has formed several reversal patterns, such as Hammer, not far from the support area. At the moment, the pair may reverse and correct upwards. In this case, the upside correctional target may be the resistance area at 1.3850. After that, the instrument may rebound from this area and resume the descending tendency. Still, there might be an alternative scenario, according to which the asset may continue falling to reach 1.3665 without testing the resistance area.