Japanese Candlesticks Analysis 04.03.2024 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, "Gold vs US Dollar"
Gold has formed a Harami reversal pattern. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be the 2065.00 level. Upon testing the support, the quotes might rebound from it and continue developing the uptrend. However, the price could rise to 2100.00 without any correction.
NZDUSD, "New Zealand Dollar vs US Dollar"
NZDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be the 0.6150 mark. Upon breaking the resistance, the price might receive a chance for extending the uptrend. However, the quotes could correct to 0.6080 before rising.
GBPUSD, "Great Britain Pound vs US Dollar"
GBPUSD has formed an Engulfing reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target could be the 1.2610 level. However, the price might correct to 1.2700 and extend the downtrend upon testing the resistance.
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.