Japanese Candlesticks Analysis 09.11.2022 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Near the resistance level, gold has formed a Hanging Man reversal pattern. Currently, if the pair goes by the signal, it may result in another correctional wave. The goal of the pullback will be 1690.00. Upon testing the support level, the price may bounce off it and continue the uptrend. However, the quotes may grow to 1735.00, skipping the reversal signal altogether.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, at the resistance level the pair has formed a Hanging Man reversal pattern. Currently, the pair may go by the reversal signal in the form of a descending wave. The goal of the correction will be 0.5890. After a bounce off the support level, the quotes might get a chance to continue the uptrend. However, the price may still grow to 0.6000 without the pullback.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, at the resistance level, the pair has formed a Hanging Man reversal pattern. Currently, the pair may go by the signal in a descending wave. The goal of the correction may be the support level of 1.1460. If the price bounces off it, it will have a chance for further growth. However, the price may grow outright to 1.1675 without correction.
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.