Japanese Candlesticks Analysis 20.09.2017 (GBP/USD, XAU/USD)

20.09.2017

GBP USD, “Great Britain Pound vs US Dollar”

At the H4 chart, the GBP/USD pair is forming Hammer, Long-Legged Doji, Harami, Engulfing, and Doji reversal patterns at support and resistance levels to define the borders of the ascending channel. By now, the price has completed another correction and formed Doji and Sandwich patterns. The upside target is still at the closest resistance level at 1.38450.

 

XAU USD, “Gold vs US Dollar”

As we can see at the H4 chart, Gap, Shooting Star, Doji, Hammer, and Inverted Hammer patterns formed at both support and resistance levels have defined the borders of the descending channel. After completing another correction, the price returned to 1313.60, where it is forming a reversal pattern right now. The next downside target is still at the next support level at 1290.50.

 

RoboForex Analytical Department

 

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