Japanese Candlesticks Analysis 25.05.2018 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after reaching the support level and forming several Hammer, Inverted Hammer, and Doji reversal patterns, XAUUSD has rebounded from the level. Judging by the previous movements, it may be assumed that after finishing a slight pullback the price may continue moving upwards.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, after reaching the support level and forming several Hammer, Inverted Hammer, and Engulfing reversal patterns, NZDUSD has started a new correction. Judging by the previous movements, at the moment it may be assumed that the correction may later transform into a new uptrend.
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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.