Japanese Candlesticks Analysis 28.10.2019 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. After forming another Hammer reversal pattern close to the support level and reversing, XAUUSD has completed one more reversal pattern, Engulfing, which may indicate a possible correction before further growth. In this case, the upside target will be at 1525.70. At the same time, we shouldn’t exclude an opposite scenario, which implies that the instrument may resume falling to reach 1488.99.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the ascending tendency continues. NZDUSD has formed Inverted Hammer pattern near the support level. Right now, the pair is reversing and may reach 0.6434. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may test 0.6333 and update the closest low.
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