Japanese Candlesticks Analysis 26.04.2021 (GOLD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the instrument is completing the correction. After forming several reversal patterns, such as Engulfing, close to the support level, XAUUSD may reverse and start new growth. In this case, the upside target may be the resistance area at 1815.00. At the same time, an opposite scenario implies that the price may correct to reach 1760.00 before resuming its ascending tendency.

NZDUSD, “New Zealand vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. By now, NZDUSD has formed several reversal patterns, such as Doji, close to the support level. The pattern materialization target may be at 0.7260. 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 its growth.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the asset is trading within the ascending tendency. By now, GBPUSD has formed several reversal patterns, such as Hammer, not far from the support area. At the moment, the pair is reversing in favor of further growth. In this case, the upside target may be at 1.4010. After that, the instrument may break the resistance area and continue the ascending tendency. Still, there might be an alternative scenario, according to which the asset may continue falling towards 1.3840 before resuming the ascending tendency.