Japanese Candlestick Analysis for GOLD and NZDUSD: July 27, 2018
GOLD
On H4, gold is again forming such reversal patterns as Hammer, Inverted hammer, and Doji, after having reached the support level. By analyzing the previous moves, one can assume that once the correction has finished, the pair will bounce off and start forming a new uptrend.
NZDUSD
On H4, the NZDUSD continues to form an uptrend. Currently, the price is getting corrected and such reversal patterns as Hammer are forming. By drawing an analogy with the previous moves, one can assume that this is again a correction before the next upmove.
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