XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. By now, XAUUSD has completed several reversal patterns, such as Hammer, near the channel’s downside border. At the moment, the pair is still reversing. After finishing the correction, the price may resume growing to reach the target at 1588.00. However, one shouldn’t ignore another scenario, according to which the instrument may break the support level and continue falling towards 1564.00.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the descending channel continues. The pair has formed several reversal patterns close to the channel’s upside border (the resistance level), one of which looks like Shooting Star. At the moment, NZDUSD is reversing; the closest downside target may be at 0.6382. After testing the support level, the market may resume its descending movement. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may grow to reach 0.6494.
