Japanese Candlestick Analysis 09.11.2021 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold is forming a wave of correction. At the resistance level, gold has formed several reversal candlestick patterns, including a Hanging Man. At the current stage, going by the signals, the price might start a correction. The aim of the pullback is the support level of 1810.00. However, the quotations can grow to 1840.00 and keep going without a pullback.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, at the resistance level, the pair has formed several reversal patterns, including a Shooting Star. Going by the reversal patterns, the quotations might correct to the support level. The aim of the pullback is 0.7105. After a bounce off the support level, the quotations might continue the uptrend. However, the price can grow to 0.7240 without testing the support level.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, at the support level, the pair has formed several reversal patterns, including an Inverted Hammer. Going by the patterns today, the quotations might get to the resistance level. The aim is 1.3660. Upon testing the resistance level, the price might bounce off it and continue the downtrend. However, the quotations might go down to 1.3540 without testing the resistance level.
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.