Japanese Candlesticks Analysis 03.12.2020 (GOLD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
XAUUSD keeps correcting in a downtrend. Near the support level, the pair has formed an Inverted Hammer. It is currently working off the reversal pattern. The aim of the pullback is 1875.50 at the resistance level. However, the quotations might keep going down to the support level at 1770.00 without a test of 1875.50.
NZDUSD, “New Zealand vs. US Dollar”
On H4, the pair has renewed the highs again. At the lower border of the channel, it has formed several reversal patterns, including a Harami. The patterns might send the quotations upwards to continue the ascending dynamics. The aim of the growth is 0.7180 at the resistance level. However, the price might pull back to 0.7000 before resuming growth.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotations keep developing the uptrend. Near the horizontal support level, the pair has formed several reversal patterns, including an Engulfing pattern, and is working them off. The aim of further growth is 1.3475. Then the quotations might break through the upper border of the channel and carry on with the ascending dynamics. However, the price might still pull back to 1.3275 before further growth.
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.