Japanese Candlesticks Analysis 17.08.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Hammer reversal pattern near the support level. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 1905.00. Upon testing the resistance, the price might rebound from it and continue the downtrend. However, the quotes could drop to 1880.50 without any correction.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be 0.6000. After rebounding from the resistance, the quotes might get a chance for continuing the downtrend. However, the price might drop to 0.5865 and develop the downtrend without any correction.
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 decline target could be 1.2640. However, the price might correct to 1.2775 and continue the downtrend after pulling back.
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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