Japanese Candlesticks Analysis 16.04.2024 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Hammer pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 2430.00. After testing the resistance level, the price could break above it and maintain its upward trajectory. However, the quotes could correct to 2360.00 before rising.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be 0.5930. After rebounding from the resistance level, the quotes might continue their downward momentum. However, the price could drop to 0.5840 without a correction.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be 1.2470. However, the price could decline to 1.2370 and continue 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. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.