Japanese Candlesticks Analysis 10.05.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Near the resistance level, the instrument has formed a Harami reversal pattern. The quotes are currently going by the reversal signal in a descending wave. The correction target could be 2015.00. After testing the support, the price could get a chance to rebound from it and go on by the uptrend. However, the quotes might rise to 2050.00 without any pullback.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, near the resistance level, the pair has formed a Shooting Star reversal pattern. The quotes are currently going by the reversal signal in a descending wave. The decline target could be 0.6300. After rebounding from the support the quotes could get the chance for going on by the uptrend. However, the price might rise to 0.6385 and develop an uptrend without correcting to the support level.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, near the support level, the currency pair has formed an Engulfing reversal pattern. The quotes are currently going by the reversal signal in an ascending wave. The growth target could be 1.2680. However, the price could correct to 1.2580 and continue the uptrend upon pulling back to the support level.
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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