Japanese Candlesticks Analysis 10.10.2019 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. After forming Shooting Star reversal pattern close to the resistance level, XAUUSD is moving sideways and testing the rising channel’s downside border. If the pair continues growing, it may return to 1531.00 to continue forming the ascending tendency. At the same time, we shouldn’t exclude an opposite scenario, which implies that the instrument may resume falling to reach 1485.00.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the descending tendency continues. After breaking the resistance level, NZDUSD has formed several reversal patterns, including Hanging Man. Right now, the pair is reversing and may start a slight correction, which may later be followed by a further decline towards 0.6210. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may continue growing towards 0.6380.
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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