Japanese Candlesticks Analysis 11.04.2024 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Hanging Man pattern. Currently, the instrument is going by the reversal signal in a descending wave. The correction target might be the 2320.00 level. After testing the support, the price could rebound from it and continue its upward momentum. However, the quotes could rise to 2385.00 without pulling back.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Doji reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be the 0.6010 level. After rebounding from the resistance, the quotes might continue their downward trajectory. However, the price could drop to 0.5940 without a correction.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Harami reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be the 1.2575 level. However, the price could correct to 1.2490 and continue the downtrend without correcting towards 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.