Japanese Candlesticks Analysis 11.09.2019 (GOLD, NZDUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. After completing another reversal pattern, Harami, close to the channel’s upside border, XAUUSD is trying to reverse. If the pair rebounds, it may move towards 1525.00. At the same time, we shouldn’t exclude a possibility that the instrument may continue falling to reach 1470.00 test the ascending channel’s downside border.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, after breaking the channel’s upside border and forming several reversal patterns, including Shooting Star, below the horizontal resistance level, NZDUSD is moving sideways. At the moment, it may be assumed that the price may complete the pullback, break the resistance level, and then continue growing towards 0.6480. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may continue the pullback towards 0.6400 and below.