Japanese Candlestick Analysis 14.07.2022 (XAUUSD, NZDUSD, GBPUSD) :: InvestMacro


Article by RoboForex.com

XAUUSD, “Gold vs. US Dollar”

As we can see on the 4-hour chart, XAUUSD formed several reversal patterns, such as HammerNot far from the support area. At the moment, the asset may reverse as a new ascending impulse wave. In this case, the bullish corrective target might be the resistance level 1770.50. At the same time, the opposite scenario indicates that the price may continue falling to reach 1710.50 without any setbacks.


Risk Warning: The result of previous trading operations does not guarantee the same results in the future

NZDUSD, “New Zealand against the US Dollar”

As we can see on the four-hour chart, the New Zealand dollar against the US dollar has formed thief Reversal pattern while pulling back. At the moment, the asset may reverse in the form of another bearish impulse. In this case, the downside target might be 0.6055. After that, the asset may break the support level and continue moving downwards. However, an alternative scenario means that the price may correct to reach 0.6165 first and then resume the downtrend.

NZDUSD
Risk Warning: The result of previous trading operations does not guarantee the same results in the future

GBPUSD, “Great British Pound to US Dollar”

As we can see on the four-hour chart, the pound against the US dollar has formed Hammer Reversal pattern near the support level. At the moment, the pair may reverse in the form of a new ascending impulse. In this case, the bullish corrective target might be the resistance area at 1.1930. Later, the market may bounce from this level and resume the decline. However, there may be an alternative scenario, according to which the asset may decline to reach the support level at 1.1730 without any corrections.

British Pounds / US Dollars

Article by RoboForex.com

attention!
Forecasts presented in this section only reflect the author’s own opinion and should not be considered guidelines for trading. RoboForex LP does not assume any responsibility for the trading results based on the trading recommendations described in these analytical reviews.


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