XAUUSD, “Gold vs US Dollar”
Gold has formed an Inverted Hammer reversal pattern near the support level. Currently, the instrument might go by the reversal signal in a corrective wave. The growth target could be 1925.00. Upon testing the resistance level, the price could rebound from it and continue the downtrend. However, the quotes might drop to 1905.00 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 decline target could be 0.6080. Upon breaking the support level, the quotes might get a chance to continue the downtrend. However, the price might pull back to 0.6150 and continue the downtrend after the correction.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed an Inverted Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.2800. However, a correction to 1.2685 and further development of the uptrend after a test of the support level are not excluded.
