XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. The pair has formed Hammer pattern near the channel’s downside border and right now it rebounding from it. Right now, price is trying to reverse and start a new movement towards the resistance at 1364.50. At the same time, we shouldn’t exclude an opposite scenario, which implies that the price may break the channel’s downside border and resume moving downwards with the target at 1334.00.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, NZDUSD is testing the horizontal support line; it has formed Hammer pattern at 0.6488. If the price reverses, it may grow towards the next level at 0.6575 and then continue forming the ascending tendency after another correctional wave. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may break the support level and continue falling to reach the target at 0.6488.
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.