Japanese Candlesticks Analysis 05.07.2019 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. After forming Hammer pattern near the resistance level, XAUUSD is trying to reverse. In case the pair continues falling, it may reach the channel’s downside border and rebound towards 1441.50. At the same time, we shouldn’t exclude an opposite scenario, which implies that the price may break the support level and fall to reach 1385.50.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, after testing the horizontal resistance line at 0.6725 again, NZDUSD has formed Long-Legged Doji pattern. Right now, the price is trying to reverse. If it succeeds, the pair may fall towards the support line 0.6568. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may update the high and grow to reach 0.6800.
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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