Japanese Candlesticks Analysis 12.12.2019 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. After completing several reversal patterns, including Inverted Hammer, close to the channel’s downside, XAUUSD is trying to reverse. In this case, the price may form a slight correction and resume growing with the upside target at 1488.88. At the same time, we shouldn’t exclude an opposite scenario, which implies that the instrument may continue falling towards 1455.55.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the ascending tendency continues. After forming several reversal patterns, including Shooting Star, near the channel’s upside border, NZDUSD is trying to reverse. Later, the market may start a new decline to reach the closest support level at 0.6515. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may update its highs and grow towards 0.6610.
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