Japanese Candlesticks Analysis 08.12.2020 (GOLD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
XAUUSD keeps developing ascending dynamics. Near the resistance level, gold has formed a Hanging Man. The reversal pattern can currently entail a pullback to the support level. The aim of the correction is 1825.00. However, the growth might continue to 1900.00 without a test of 1825.00.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, the pair renewed the highs once again and formed a pullback. Near the support level, the pair has formed several reversal patterns, including an Engulfing. The patterns can push the quotations to continue the ascending dynamics. The aim of the growth is the resistance level at 0.7165. However, the situation might develop into a pullback to 0.6990, preceding further development of the ascending dynamics.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotations keep developing a correction of the uptrend. At the horizontal support level, the pair has formed several reversal patterns, including a Harami, and keeps working off the signals from the candlestick patterns. The aim of further growth is 1.3480. Then the quotations might break through the upper border of the channel and keep developing the ascending dynamics. However, the price might return to 1.3265 before resuming growth.
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