Japanese Candlesticks Analysis 03.05.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Near the resistance, gold has formed a Shooting Star reversal pattern. The instrument is now going by the reversal signal in a descending wave. The target for the correction could be 2000.00. Upon testing the support, the price might get a chance for a rebound and further development of the uptrend. However, the quotes may grow to 2030.00 without pulling back.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, near the resistance, NZDUSD has formed a Shooting Star reversal pattern. The instrument could go by the reversal signal in a descending wave. The target for the decline could be 0.6190. Upon breaking the support, the quotes might get a chance for extending the downtrend. However, the price may pull back to 0.6270 and develop the downtrend after the correction.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, near the support, the pair has formed a Hammer reversal pattern. The instrument is going by the reversal signal in an ascending wave. The target for the growth could be 1.2560. However, the price may correct to 1.2455 and continue the uptrend after the pullback to the support.
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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