Japanese Candlesticks Analysis 18.10.2019 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. XAUUSD has formed Hammer reversal pattern close to the support level. At the moment, the pair is starting to reverse. If the price continues growing, it may return to 1516.00 to continue forming the ascending tendency. At the same time, we shouldn’t exclude an opposite scenario, which implies that the instrument may resume falling to reach 1477.77.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the ascending tendency continues. NZDUSD has formed Shooting Star pattern in the middle of the channel. Right now, the pair is reversing and may start a slight correction, which may later be followed by further growth towards 0.6415. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may continue falling towards 0.6336.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.