Japanese Candlesticks Analysis 16.10.2018 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is testing the resistance level and forming Hanging Man and Shooting Star reversal patterns. Judging by the previous movements, it may be assumed that the price may complete the pullback and then continue its ascending movement.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, NZDUSD is still growing. Right now, the price is forming another correction from the resistance level with Doji and Harami reversal patterns. Judging by the previous movements, it may be assumed that the instrument may complete the correction and then start a new growth.
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.