Japanese Candlesticks Analysis 08.04.2021 (GOLD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
The pair keeps developing ascending dynamics. It has formed several reversal patterns at the resistance area, including a Harami. Currently, going by the patterns, gold my slump into a correction with the aim at 1725.00. However, the quotations might still proceed to 1755.00 skipping the reversal patterns.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, the pair keeps correcting. It has formed several reversal pattetns ar the resistance area, including an Engulfing pattern. The aim of the decline is 0.6950. Upon testing the support level, the pair can break through it and keep on with the descending dynamics. However, the quotations might still grow to 0.7070 before continuing the descending dynamics.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the pair us gorming another correction inside a downtrend. At the support level, the pair has formed several reversal patterns, including a Hammer. Going by the patterns, the pair can currently continue the pullback with the aim at 1.3795. Then, bouncing off the resistance area, the quotations might go on declining. However, they might still go to 1.3690 without testing the resistance area.
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.