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Japanese Candlesticks Analysis 10.07.2019 (GOLD, NZDUSD)

10 july 2019 - Fx4News

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. After forming Inverted Hammer pattern near the support level, XAUUSD is trying to reverse. In case the pair continues growing, it may reach the resistance level at 1441.62. At the same time, we shouldn’t exclude an opposite scenario, which implies that the price may break the support level and update the closest low.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, after testing the horizontal support line at 0.6568 again, NZDUSD has formed Hammer pattern. Right now, the price is trying to reverse. In case the pair continues growing, it may reach the resistance line at 0.6725. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may break the support level and continue falling towards the next target at 0.6490.

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

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