Japanese Candlesticks Analysis 09.09.2020 (GOLD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
XAUUSD keeps correcting in an uptrend. The pair has formed several reversal patterns, including a Hammer, at the lower border of the channel. The working-off of the patterns may lead to the continuation of the ascending dynamics. The goal of the growth is near 2000.00. However, the pair may still decline to 1900.00.
NZDUSD, “New Zealand vs. US Dollar”
On H4, the pair keeps correcting in an uptrend. Near the support level, it has formed several reversal patterns, including a Hammer. As long as the correction is almost over, and the preceding ascending impulse was rather strong, the working-off of the signals may bring the price to 0.6715. However, the quotations may skip the signals and decline to 0.6588.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the pair keeps declining. It has formed several reversal pattern, including a Doji. As long as the pound is coming down swiftly, it is unlikely that we will see the patterns worked off. A bit later the pair may correct a little but go on declining, aiming at 1.2890. However, the price may still grow to 1.3110.
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.