Japanese Candlesticks Analysis 17.05.2018 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after reaching the support level and forming several Hammer, Inverted Hammer, and Engulfing reversal patterns, XAUUSD has been slightly corrected. Judging by the previous movements, it may be assumed that after finishing the correction the price may continue moving downwards despite the above-mentioned reversal patterns.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, after reaching another low, NZDUSD has been corrected and formed several Shooting Star and Harami reversal patterns at the top. Judging by the previous movements, at the moment it may be assumed that the correction is over and the instrument may resume its decline.
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