XAUUSD, “Gold vs US Dollar”
Gold has formed a Long-Legged Doji near the support level. At this stage, the instrument is going by the reversal signal in a corrective wave. The growth target could be 1937.50. Upon testing the resistance, the price could have a chance for a rebound and the development of a downtrend. However, the price might drop to 1920.00 without testing the resistance.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 0.6170. After a rebound from the support, the quotes could have a chance to continue the uptrend. However, the price might rise to 0.6230 and develop the uptrend without testing the support level.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed an Engulfing reversal pattern by the support level on H4. At this stage, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.2960. However, the price might correct to 1.2850 and continue the uptrend after the pullback to the support.
