Japanese Candlesticks Analysis 31.10.2022 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
At the support level, gold has formed a Harami reversal pattern. Currently, the pair may go by the signal in a wave of correction. The goal of growth will be 1660.50. Upon testing the resistance level, the pair may bounce off it and continue the downtrend. However, the quotes may fall to 1625.00 without pulling back to the resistance level.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, at a pullback 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 0.5875. After the resistance level is broken away, the quotes will have a chance to continue the uptrend. However, the price may correct to 0.5770 before growing.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, at the support level, the pair has formed a Harami reversal pattern. The pair is currently going by the signal in an ascending wave. The goal of the growth will be the resistance level at 1.1720; if the price manages to break through it, it will have a chance for continuing the uptrend. However, the price may drop to 1.1510 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.