Japanese Candlesticks Analysis 26.10.2022 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
At the support level, gold has formed a Hammer reversal pattern. Going by the signal, the pair is forming a correctional wave. The goal of growth will be 1675.50. After a test of the resistance level, the pair might bounce off it and continue the downtrend. However, the quotes may fall to 1640.50 without a pullback to the resistance level.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, at the support level, the pair has formed a Hammer reversal pattern. The pair is now going by the signal in an ascending wave. The goal of growth will be 0.5825. After a breakaway of the resistance level, the quotes will get a chance to continue the uptrend. However, the price may correct to 0.5735 before growing.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, at the support level, the pair has formed a Hammer reversal pattern. The pair is now going by the signal in an ascending wave. The goal of growth is the resistance level of 1.1650. If it is broken away, the price will have a chance to continue the downtrend. However, it might drop to 1.1390 before growing.
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.