XAUUSD, “Gold vs US Dollar”
Gold has formed a Hammer reversal pattern near the support area. Currently, the instrument is going by the reversal signal in an ascending wave. The pullback target could be 1837.50. Upon testing the resistance, the price might rebound from this level and form a descending wave. However, the quotes could drop to 1805.00 without testing the resistance level.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 0.5980. Upon breaking the resistance, the quotes might get a chance to develop the uptrend. However, the price could correct to 0.5915 and develop the uptrend upon testing the support level.
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 1.2230. However, the price could drop to 1.2035 and continue the downtrend without testing the resistance.
