Japanese Candlesticks Analysis 07.03.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Doji reversal pattern near the resistance level. The instrument is now going by the pattern in a descending wave. The target of the decline might be 1825.00. After a test of the support, the price might break through it and continue falling. However, the quotes might pull back to 1870.00 before the decline.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, near the support level, the pair has formed a Hammer reversal pattern. The instrument may now go by the pattern in an ascending wave. The target of the correction might be 0.6250. After a rebound from the resistance level, the quotes might continue the downtrend. However, the quotes might drop to 0.6150 without testing the resistance level.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, near the support level, the pair has formed an Inverted Hammer reversal pattern. The instrument is now going by the reversal pattern in an ascending wave. The target of the correction might be the resistance level of 1.2090. However, the price may drop to 1.1960 and continue the downtrend without correcting to the resistance.
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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