Japanese Candlesticks Analysis 18.11.2019 (GOLD, NZDUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. By now, XAUUSD has completed several reversal patterns, including Hammer, close to the support level. At the moment, the pair is expected to complete the correction and then try to reverse. The upside target is at 1484.00. At the same time, we shouldn’t exclude an opposite scenario, which implies that the instrument may continue falling towards 1441.00 and update its closest lows.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, the ascending tendency continues. After forming several reversal patterns, including Doji, near the support level, NZDUSD is reversing. Right now, the pair is expected to complete another slight correction, which may later be followed by further growth to reach 0.6444. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may fall towards 0.6340 and update its closest lows.