Japanese Candlesticks Analysis 09.11.2022 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Near the resistance level, gold has formed a Hanging Man reversal pattern. Currently, if the pair goes by the signal, it may result in another correctional wave. The goal of the pullback will be 1690.00. Upon testing the support level, the price may bounce off it and continue the uptrend. However, the quotes may grow to 1735.00, skipping the reversal signal altogether.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, at the resistance level the pair has formed a Hanging Man reversal pattern. Currently, the pair may go by the reversal signal in the form of a descending wave. The goal of the correction will be 0.5890. After a bounce off the support level, the quotes might get a chance to continue the uptrend. However, the price may still grow to 0.6000 without the pullback.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, at the resistance level, the pair has formed a Hanging Man reversal pattern. Currently, the pair may go by the signal in a descending wave. The goal of the correction may be the support level of 1.1460. If the price bounces off it, it will have a chance for further growth. However, the price may grow outright to 1.1675 without correction.
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.