XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the descending tendency continues. After forming several reversal patterns, such as Harami, close to the resistance level, XAUUSD may reverse and fall towards the support area. In this case, the downside target will be at 1670.00. At the same time, an opposite scenario implies that the price may start a new pullback to reach 1740.50 before resuming its decline.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the pair is still correcting within the uptrend. By now, NZDUSD has formed several reversal patterns, such as Harami, close to the resistance level. The downside target may be the support area at 0.7070. Later, the price may test the area, rebound from it, and resume moving upwards. In this case, the upside target may be the resistance level at 0.7245.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, the asset is forming another correctional wave. Right now, after forming several reversal patterns, such as Hammer, not far from the support area, GBPUSD may reverse and resume trading upwards. In this case, the upside target may be the resistance area at 1.4020. After that, the instrument may continue the ascending tendency. Still, there might be an alternative scenario, according to which the asset may continue falling to reach 1.3790 and test the channel’s downside border before resuming its growth.
