Japanese Candlesticks Analysis 28.02.2024 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The decline target could be 2020.00. After testing the support, the price might break below it and maintain its downward trajectory. However, the quotes could correct to 2040.00 before falling.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target could be 0.6155. After breaking above the resistance, the quotes might continue their upward momentum. However, the price could undergo a correction 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 1.2620. However, the price might undergo a correction to 1.2700 and continue the downtrend after 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.