Japanese Candlesticks Analysis 04.12.2019 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. By now, after completing several reversal patterns, including Hammer, close to the support level, XAUUSD has reversed. At the moment, the pair is correcting. After completing this slight pullback, the price may grow towards 1491.50. At the same time, we shouldn’t exclude an opposite scenario, which implies that the instrument may continue falling towards 1455.50.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the ascending channel continues. After forming several reversal patterns, including Harami, near the resistance level, NZDUSD is reversing. Later, the market may start a new decline to reach the support level at 0.6455. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may grow towards 0.6555 and break the channel’s upside border.
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