Japanese Candlesticks Analysis 06.07.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Sandwich reversal pattern near the support level. At this stage, the instrument could go by the reversal signal in a corrective wave. The growth target might be 1930.00. Upon testing the resistance, the price could rebound from this level and continue the downtrend. However, the quotes might drop to 1910.00 without testing the resistance.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target might be 0.6160. After a rebound from the support, the quotes might get a chance to continue the uptrend. However, the price could grow to 0.6230 and develop the uptrend without testing the support.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Harami reversal pattern on H4 near the resistance level. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 1.2670. However, the price might rise to 1.2780 and continue the uptrend without a 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.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.