Japanese Candlesticks Analysis 08.12.2017 (GOLD, NZD/USD)
XAU USD, “Gold vs US Dollar”
As we can see at the H4 chart, the XAU/USD pair is still falling despite reversal patterns. By now, the price has formed Harami pattern. Taking into account previous reversal patterns that weren’t confirmed, we may assume that this pattern is unlikely to result in a reverse and the price may continue falling.
NZD USD, “New Zealand vs. US Dollar”
Hammer, Inverted Hammer, Harami, and Doji reversal patterns close to the support level indicate that the NZD/USD may be finishing the downtrend and starting a new growth with the closest target near the resistance level at 0.7054.
RoboForex Analytical Department
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.