Japanese Candlesticks Analysis 02.10.2019 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. After breaking the support level, XAUUSD has formed Hammer reversal pattern. Right now, the pair is starting to reverse. If the pair continues growing, it may return to the channel’ downside border at 1505.00. At the same time, we shouldn’t exclude a possibility that the instrument may resume falling to reach 1459.00.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the descending tendency continues. After testing another horizontal support level, NZDUSD has formed Engulfing pattern. Right now, the pair is about to finish reversing. After that, the pair may continue falling towards 0.6175. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may continue growing towards 0.6321.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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