Japanese Candlesticks Analysis 04.12.2019 (GOLD, NZDUSD)

December 4, 2019

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. By now, after completing several reversal patterns, including Hammer, close to the support level, XAUUSD has reversed. At the moment, the pair is correcting. After completing this slight pullback, the price may grow towards 1491.50. At the same time, we shouldn’t exclude an opposite scenario, which implies that the instrument may continue falling towards 1455.50.

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, the ascending channel continues. After forming several reversal patterns, including Harami, near the resistance level, NZDUSD is reversing. Later, the market may start a new decline to reach the support level at 0.6455. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may grow towards 0.6555 and break the channel’s upside border.


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.