Japanese Candlesticks Analysis 03.02.2020 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. By now, XAUUSD has completed several reversal patterns, such as Engulfing. At the moment, the pair is still reversing. Later, the market may form a slight correction and then continue moving to reach 1561.23. However, one shouldn’t ignore another scenario, according to which the instrument may continue the ascending tendency towards 1600.00.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the pair is moving near the support level, where it has formed several reversal patterns, including Hammer. At the moment, NZDUSD is expected to reverse; the closest upside target may be at 0.6540. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may fall to reach 0.6425 without any pullbacks.
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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