Japanese Candlesticks Analysis 12.09.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Shooting Star reversal pattern near the resistance level. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 1914.00. After testing the support level, the price might rebound and continue the uptrend. However, the quotes could rise to 1935.00 without pulling back to the support level.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target could be 0.5850. After breaking the support level, the quotes might continue a downward movement. However, the price could pull back to 0.5925 and develop a downtrend after testing the resistance level.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target could be 1.2550. However, the price could drop to 1.2455 and continue its downward movement without testing the resistance 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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