Japanese Candlesticks Analysis 18.03.2021 (GOLD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. After forming several reversal patterns, such as Hammer, close to the support level, XAUUSD may reverse and resume growing towards the resistance area. In this case, the upside target may be at 1785.00. At the same time, an opposite scenario implies that the price may correct to reach 1705.00 before resuming its growth.

NZDUSD, “New Zealand Dollar vs US Dollar”

As we can see in the H4 chart, the pair is still moving within the uptrend. By now, NZDUSD has formed several reversal patterns, such as Doji, close to the resistance level. The upside target may be at 0.7310. Later, the price may test the resistance area, break it, and continue moving upwards. However, an alternative scenario implies that the price may correct towards 0.7160 before resuming the ascending tendency.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the asset continues forming another rising wave. By now, GBPUSD has formed several reversal patterns, such as Hammer, not far from the support area. At the moment, the pair may correct and then resume trading upwards. In this case, the upside target may be the resistance area at 1.4085. After that, the instrument may continue the ascending tendency. Still, there might be an alternative scenario, according to which the asset may continue falling to reach 1.3855 and test the channel’s downside border before resuming its growth.