Japanese Candlesticks Analysis 02.03.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
At the support level, gold has formed a Hammer reversal pattern. The instrument is now going by the signal in an ascending wave. The goal of the correction might be 1855.00. Upon testing the resistance level, the price may push off it and continue the downtrend. However, the quotes might drop to 1800.00 without testing the resistance.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, at the resistance level, the pair has formed a Shooting Star reversal pattern. The instrument is now going by the signal in a descending wave. The goal of the decline might be 0.6175. After breaking away the support level, the quotes might continue the downtrend. However, the price might pull back to 0.6280 before falling.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, at the resistance level, the pair has formed a Harami reversal pattern. The instrument is now going by the signal in a descending wave. The goal of the decline might be the support level of 1.1910. However, the price may pull back to 1.2060 and continue the downtrend after the correction.
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