Japanese Candlesticks Analysis 18.05.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Near the support level, Gold has formed an Engulfing reversal pattern. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target could be 2015.00. Upon testing the resistance, the price might break this level and continue the uptrend. However, the price could pull back to 1960.00 before rising.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, near the support, the pair has formed a Hammer reversal pattern. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target could be 0.6300. Upon breaking the resistance, the quotes might continue the uptrend. However, the price could pull back to 0.6230 and develop the uptrend after the correction to the support level.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, near the support level, the pair has formed a Harami reversal pattern. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target could be 1.2555. However, the quotes could still correct to 1.2425 and continue the uptrend after the pullback to the support 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.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.