XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after finishing another correction within the rising tendency and forming a Hammer pattern not far from the support area, XAUUSD is reversing and may form a slight correction, which may be followed by further growth. In this case, the upside target will be the resistance area at 1930.00. At the same time, an opposite scenario implies that the price may start another decline with the target at 1875.00 before resuming its ascending tendency.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the correction continues. After forming several reversal patterns, such as Shooting Star, not far from the channel’s upside border, NZDUSD is still reversing and moving towards the channel’s downside border. The downside target may be the support area at 0.6610. Still, an alternative scenario says that the pair may continue trading upwards without testing 0.6610.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. By now, GBPUSD has formed several reversal patterns, such as Hammer, not far from the support area. At the moment, the pair is reversing and correcting, and may later continue falling with the target at 1.2955. After testing the support area, the asset may rebound and resume the rising tendency. In this case, the upside target will be the resistance area at 1.3160.
