Japanese Candlesticks Analysis 13.08.2019 (GOLD, NZDUSD)

August 13, 2019

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. After forming Hanging Man pattern, XAUUSD is testing the channel’s upside border and may reverse. The target of the pullback is at 1495.50. At the same time, we shouldn’t exclude a possibility that the instrument may break the border and continue moving upwards without a significant correction.

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand vs. US Dollar”

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As we can see in the H4 chart, NZDUSD is still trading close to the support level, where it has formed Harami pattern. Right now, the pair is rebounding from the support line. In this case, the price may reverse and grow towards the resistance line at 0.6555. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may complete the correction, break the support level at 0.6395, and continue falling.


Article By RoboForex.com

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.