Japanese Candlesticks Analysis 26.05.2020 (GOLD, NZDUSD, GBPUSD)

May 26, 2020

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after forming several reversal patterns, including Harami, close to the rising channel’s downside border, XAUUSD is reversing. If later the price rebounds from the border, the uptrend may resume. In this case, the upside target may be at 1777.00.

XAUUSD
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, after finishing the correction and testing the rising channel’s downside border, NZDUSD has formed several reversal patterns not far from the support level and rebounded from it to the upside; right now, it is still moving upwards. The upside target remains at 0.6220.

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

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after rebounding from the support level, forming a Hammer pattern, and reversing, GBPUSD has finished another correction and completed several more reversal patterns; right now, it is still growing. The upside target is at 1.2358. However, there is another scenario, which implies that the instrument may fall to return to 1.2010.

GBPUSD

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.