Japanese Candlesticks Analysis 11.02.2020 (GOLD, NZDUSD)

February 11, 2020

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. By now, XAUUSD has completed several reversal patterns, such as Hammer, near the channel’s downside border. At the moment, the pair is still reversing. After finishing the correction, the price may resume growing to reach the upside target at 1588.00. However, one shouldn’t ignore another scenario, according to which the instrument may break the support level and continue falling towards 1555.00.

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

NZDUSD


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As we can see in the H4 chart, the pair is still testing the support level, where it has formed several reversal patterns, including Hammer. At the moment, NZDUSD is expected to reverse; the closest upside target may be at 0.6455. After that, the market may resume its descending tendency. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may fall to reach 0.6425 and continue forming the descending channel without reversing.

NZDUSD

Article By RoboForex.com

Attention!
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.