XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD has formed several reversal patterns, such as Hammer, not far from the support area. At the moment, the asset may reverse in the form of a new rising impulse. In this case, the upside correctional target may be the resistance level at 1775.50. At the same time, an opposite scenario implies that the price may continue falling to reach 1715.50 without any pullbacks.
NZDUSD, “New Zealand vs US Dollar”
As we can see in the H4 chart, NZDUSD has formed a Hammer reversal pattern close to the support area. At the moment, the asset may reverse in the form of another correctional impulse. In this case, the upside correctional target may be at 0.6150. After that, the asset may rebound from the resistance level and resume moving downwards. However, an alternative scenario implies that the price may continue falling to reach 0.6080 without any corrections.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD has formed aт Engulfing reversal pattern near the resistance level. At the moment, the pair is reversing in the form of a new descending impulse. In this case, the downside correctional target may be the support area at 1.1800. Later, the market may break this level and continue falling to reach the target at 1.1825.
