Japanese Candlesticks Analysis 24.03.2022 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD has formed a Harami pattern not far from the resistance level. At the moment, the asset is reversing in the form a new correctional impulse. In this case, the downside correctional target may be the support area at 1920.00. At the same time, an opposite scenario implies that the price may grow to reach 1985.00 and continue the uptrend without any corrections.

NZDUSD, “New Zealand vs US Dollar”

As we can see in the H4 chart, NZDUSD has formed a Shooting Star reversal pattern close to the resistance area. At the moment, the asset is reversing and may form a new correctional impulse. In this case, the downside target is at 0.6920. After that, the asset may rebound from this level and resume moving upwards. However, an alternative scenario implies that the price may grow to reach 0.7010 without any corrections towards the support level.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD has formed a Harami reversal pattern near the support area. At the moment, the pair is reversing and may form a new ascending impulse. In this case, the upside target may be at 1.3290. After testing the resistance level, the market may break it and continue trading upwards. Still, there might be an alternative scenario, according to which the asset may correct to reach 1.3150 before resuming the uptrend.