Japanese Candlesticks Analysis 25.11.2020 (GOLD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. Right now, after forming several reversal patterns, such as Hammer, close to the support area, XAUUSD is expected to reverse and correct to the upside. In this case, the upside target will be the resistance area at 1858.30. At the same time, an opposite scenario implies that the price may start another decline to reach the support area at 1775.50 without reversing and reaching the above-mentioned resistance level.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, NZDUSD is still updating its highs. Right now, after forming several reversal patterns, such as Engulfing, not far from the resistance area. it is expected to reverse and correct towards 0.6888. Later, the market may test the support level and resume the ascending tendency. In this case, the upside target will be at 0.7045.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. Right now, after forming several reversal patterns, such as Engulfing, not far from the resistance area, GBPUSD is reversing. The correctional target is at 1.3260. After that, the instrument may break the channel’s upside border and then continue growing. In this case, the upside target will be at 1.3450.