Japanese Candlesticks Analysis 15.05.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Near the support level, gold has formed an Engulfing reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 2040.00. Upon testing the resistance, the price might break it and continue the uptrend. However, the quotes could pull back to 2000.00 before rising.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, near the support level, NZDUSD has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 0.6270. Upon breaking the resistance, the quotes might get a chance for continuing the uptrend. However, the price could pull back to 0.6180 and develop an uptrend after the correction to the support.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, near the support level, GBPUSD has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 1.2545. However, the price could correct to 1.2435 and continue the uptrend after the pullback to the support level.
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