Japanese Candlesticks Analysis 06.09.2019 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. After completing another reversal pattern, Harami, close to the channel’s upside border, XAUUSD is testing the support level and trying to reverse. If the pair rebounds, it may move towards 1565.00. At the same time, we shouldn’t exclude a possibility that the instrument may fall to reach 1495.00 and continue forming the ascending channel.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the descending channel continues. NZDUSD has formed Shooting Star reversal pattern close to the resistance level. Right now, the pair is reversing. At the moment, it may be assumed that the price may continue falling towards 0.6315. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may break the channel’s upside border and grow towards 0.6424.
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.