Japanese Candlesticks Analysis 01.08.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Hammer reversal pattern near the support level. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 1980.00. Upon testing the resistance, the price could break it and continue an uptrend. However, the quotes could pull back to 1950.00 before rising.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 0.6260. Upon breaking the resistance, the quotes might have a chance to continue the uptrend. However, a correction to 0.6145 might develop and an uptrend might follow the correction.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 1.2950. However, the price might correct to 1.2790 and continue the uptrend following the pullback.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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