Japanese Candlesticks Analysis 26.05.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Near the support level, Gold has formed a Hammer reversal pattern. The instrument could now go by the reversal signal in an ascending wave. The growth target might be 1965.00. After testing the resistance, the price could rebound from it and continue the downtrend. However, the quotes could drop to 1930.50 without any correction.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, near the support level, NZDUSD has formed a Harami reversal pattern. The instrument is now going by the reversal signal in an ascending wave. The correction target might be 0.6110. After a rebound from the resistance level, the quotes could get a chance for continuing the downtrend. However, the price could drop to 0.6025 and develop a downtrend without any serious correction.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, near the support level, GBPUSD has formed an Inverted Hammer reversal pattern. The instrument is now going by the reversal signal in an ascending wave. The growth target might be 1.2410. However, the price might drop to 1.2300 and continue the downtrend without testing the resistance.
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.