Japanese Candlesticks Analysis 28.10.2019 (GOLD, NZDUSD)

28.10.2019

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. After forming another Hammer reversal pattern close to the support level and reversing, XAUUSD has completed one more reversal pattern, Engulfing, which may indicate a possible correction before further growth. In this case, the upside target will be at 1525.70. At the same time, we shouldn’t exclude an opposite scenario, which implies that the instrument may resume falling to reach 1488.99.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, the ascending tendency continues. NZDUSD has formed Inverted Hammer pattern near the support level. Right now, the pair is reversing and may reach 0.6434. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may test 0.6333 and update the closest low.

NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.