Japanese Candlesticks Analysis 19.09.2019 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. XAUUSD has formed another reversal pattern, Hammer, close to the channel’s downside border. Right now, the pair 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 1475.00 test the ascending channel’s downside border.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, NZDUSD has formed Inverted Hammer reversal pattern; right now, it is testing the horizontal support level and starting to reverse. After that, the pair may return to 0.6361. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may continue falling towards 0.6268.
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.