Japanese Candlesticks Analysis 22.02.2022 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after a price gap, XAUUSD has formed a Shooting Star pattern not far from the resistance level. At the moment, the asset is reversing in the form a new correctional impulse. In this case, the downside correctional target may be the support area at 1900.00. At the same time, an opposite scenario implies that the price may grow to reach 1930.00 and continue the ascending tendency without any significant pullbacks.

NZDUSD, “New Zealand vs US Dollar”

As we can see in the H4 chart, NZDUSD has formed an Inverted Hammer reversal pattern close to the support area. At the moment, the asset is reversing and may form a new ascending impulse towards the resistance level. In this case, the upside target is at 0.6770. After that, the asset may break this level and continue moving upwards. However, an alternative scenario implies that the price may correct to reach 0.6655 before resuming its uptrend.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD has formed a Harami reversal pattern near the support area. At the moment, the pair is reversing in the form of a new rising impulse. In this case, the upside target may be at 1.3680. After testing the resistance level, the market may break it and continue trading upwards. Still, there might be an alternative scenario, according to which the asset may correct to reach 1.3555 before resuming its growth.