XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the correction within the rising tendency continues. After forming a Hammer pattern not far from the support area, XAUUSD is reversing. The next upside target may be the resistance area at 1945.00. At the same time, an opposite scenario implies that the price may form another correction with the target at 1865.00 before resuming the uptrend.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the correction continues. After forming several reversal patterns, such as Engulfing, close to the horizontal resistance level, NZDUSD may reverse and then resume moving downwards. The next downside target may be the support area at 0.6515. Still, an alternative scenario says that the pair may continue trading upwards to reach the next resistance level at 0.6710.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, the correction within the uptrend continues. By now, GBPUSD has formed several reversal patterns, such as Shooting Star, not far from the resistance area. At the moment, the pair is still reversing and may later fall to reach the target at 1.2845. However, there might be another scenario, according to which the price may return to 1.3065 before resuming its growth towards the above-mentioned target.
