Japanese Candlesticks Analysis 23.05.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Near the support level, gold has formed an Inverted Hammer reversal pattern. Currently, the instrument could go by the reversal pattern in an ascending wave. The growth target might be 1975.50. Upon testing the resistance, the price could rebound from it and continue with the downtrend. However, the quotes could drop to 1945.50 without any correction.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, near the resistance level, NZDUSD has formed a Shooting Start reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 0.6250. After rebounding from the support, the quotes might continue with the uptrend. However, they could rise to 0.6320 and go on growing without a substantial correction.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, near the support level, GBPUSD has formed an Inverted Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.2460. However, the price might drop to 1.2360 and continue with the downtrend without pulling back to the resistance 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.
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