XAU USD, “Gold vs US Dollar”
As we can see at the H4 chart, after failing to break the resistance level, the XAU/USD pair formed Shooting Star pattern along with the correction. Later, the price formed Inverted Hammer and Engulfing patterns near the lows. These patterns indicate that the correction is complete and the instrument may resume moving upwards to break the high.
NZD USD, “New Zealand vs. US Dollar”
As we can see at the H4 chart, the NZD/USD is still falling and forming the descending channel. After breaking the support level and finishing a slight correction, the price formed Hanging Man pattern. The pattern indicates that the correction is probably complete and the instrument may continue falling.
RoboForex Analytical Department