Japanese Candlesticks Analysis 21.06.2021 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the downtrend continues. After forming several reversal patterns, such as Hammer, close to the support level, XAUUSD may reverse and form a new pullback to reach the resistance area at 1796.00. At the same time, an opposite scenario implies that the price may continue falling within the downtrend towards 1746.50 without testing the resistance area.

NZDUSD, “New Zealand vs US Dollar”

As we can see in the H4 chart, the correctional impulse continues. By now, NZDUSD has formed several reversal patterns, such as Inverted Hammer, close to the support level. The pattern materialization target may be at 0.7000. Later, the price may test this level, rebound from it, and resume moving downwards. However, an alternative scenario implies that the price may continue falling towards 0.6880 without testing the resistance level.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the asset is correcting within the downtrend. By now, GBPUSD has formed several reversal patterns, such as Hammer, not far from the support area. At the moment, the pair may reverse and start a new pullback. In this case, the correctional target may be at 1.3860. However, the next downside target after the pullback may be at 1.3725. After breaking the resistance level, the instrument may boost its ascending tendency.