XAUUSD, “Gold vs US Dollar”
Gold has formed a Shooting Star reversal pattern near the resistance level. Currently, the instrument could go by the reversal signal in a descending wave. The decline target might be 1939.00. After testing the support, the price could rebound from it and continue the uptrend. However, the quotes might rise to 1955.25 without any correction.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The pullback target might be 0.6010. Upon rebounding from the resistance, the quotes could continue the downtrend. However, the price might drop to 0.5915 and develop a downtrend without any pullback.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target could be 1.2660. However, the price might drop to 1.2565 and continue the downtrend without testing the resistance.
