Japanese Candlesticks Analysis 16.01.2018 (GOLD, NZD/USD)
XAU USD, “Gold vs US Dollar”
As we can see at the H4 chart, the XAU/USD pair has formed Doji, Shooting Star, and Engulfing reversal patterns. Taking into account the previous similar patterns, we may assume that current patterns won’t result in a reverse and after a slight correction the price will resume growing and update the closest highs.
NZD USD, “New Zealand vs. US Dollar”
After forming several Hanging Man and Shooting Star reversal patterns, the NZD/USD pair started a new correction. Judging by the current uptrend, we may assume that after finishing the correction the instrument may continue growing despite the above-mentioned reversal patterns.
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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.