Japanese Candlesticks Analysis 22.05.2018 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after reaching the support level, forming several Hammer, Inverted Hammer, and Engulfing reversal patterns, and updating its low, XAUUSD has been corrected again. 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 a new low, NZDUSD has formed several Hammer and Engulfing reversal patterns and completed another pullback. Judging by the previous movements, at the moment it may be assumed that instrument may start a new uptrend.
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