Japanese Candlesticks Analysis 14.07.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Hanging Man reversal pattern near the resistance level. Currently, the instrument is going by the reversal signal in a corrective wave. The pullback target could be 1950.00. After a test of the support level, the price might rebound from it and continue the uptrend. However, the quotes could rise to 1972.00 without correcting.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Shooting Star reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The correction target might be 0.6365. After a rebound from the support, the quotes might get a chance to continue the uptrend. However, the price could rise to 0.6430 and develop the uptrend without testing the support.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Harami reversal pattern near the resistance level on H4. Currently, the instrument might go by the reversal signal in a descending wave. The correction target might be 1.3060. However, the price could rise to 1.3200 and continue the uptrend without a pullback to the support.
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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