Japanese Candlesticks Analysis 17.01.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
At the resistance level, Gold has formed an Engulfing reversal pattern. The instrument is now going by the signal in a descending wave. The goal of the correction might be 1895.50. Upon testing the support level the pair might bounce off it and continue the uptrend. However, the quotes may rise to 1940.50 without testing the support level.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, at the support level, the pair has formed a Harami reversal pattern. The pair is now going by the signal in an ascending wave. The goal of the growth might be 0.6740. After breaking away the resistance level, the pair might continue the uptrend. However, the price may pull back to 0.6370 before growing.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, at the resistance level, the pair has formed a Shooting Star reversal pattern. The pair is now going by the signal in a descending wave. The goal of the correction might be the support level of 1.2155. However, the price may grow to 1.2325 and continue the uptrend, skipping the test of the support altogether.
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