XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the correctional wave continues. After forming several reversal patterns, such as Harami, not far from the resistance level, XAUUSD may reverse and resume falling. In this case, the downside target may be the support area at 1725.50. At the same time, an opposite scenario implies that the price may grow towards 1770.00 first and then resume trading downwards.
NZDUSD, “New Zealand vs US Dollar”
As we can see in the H4 chart, after testing the support area, NZDUSD has formed several reversal patterns, such as Doji. At the moment, the asset is reversing in the form of a new pullback. In this case, the correctional target may be the resistance level at 0.6935. After that, the asset may rebound from it and resume moving downwards. However, an alternative scenario implies that the price may fall to reach 0.6820 without reversing and correcting.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, the asset is forming another correctional wave from the channel’s downside border. By now, GBPUSD has formed several reversal patterns, such as Doji, not far from the support level. At the moment, the pair is reversing in the form of a correctional impulse. In this case, the upside target may be at 1.3535. After testing this level, the market may rebound from it and resume falling. Still, there might be an alternative scenario, according to which the asset may fall towards 1.3380 without testing the resistance area.
