EUR USD, “Euro vs. US Dollar”
As we can see at the H4 chart, after reaching the support level, the price is constantly forming Engulfing, Harami, Hammer, and Inverted Hammer reversal patterns. After finishing two Inverted Hammer patterns at the support level, the pair reached all existing Stop Loss levels, formed Engulfing pattern, and then moved upwards. The upside target is still at the resistance level at 1.2067.
XAU USD, “Gold vs US Dollar”
At the H4 chart of XAU USD, we can see several gaps; the price has formed Doji, Hammer, Harami, Engulfing, and Inverted Hammer patterns at both support and resistance levels. Right now, after completing a slight correction, the pair is trading downwards. The downside target is at the support level at 1321.05.
RoboForex Analytical Department
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.