XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the descending impulse continues. After forming several reversal patterns, such as Hammer, close to the support level, XAUUSD may reverse and start a new pullback towards the resistance area. In this case, the correctional target may be at 1700.00. At the same time, an opposite scenario implies that the price may continue falling to reach 1665.00 without reversing and correcting.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the pair is still correcting. By now, NZDUSD has formed several reversal patterns, such as Doji and Inverted Hammer, close to the support level. The next upside target may be at 0.7070. Later, the price may test the resistance area, rebound from it, and resume moving downwards. However, an alternative scenario implies that the price may fall towards 0.6915 without reversing and correcting.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, the asset continues forming the descending tendency. By now, GBPUSD has formed several reversal patterns, such as Engulfing, not far from the resistance area. At the moment, the pair may reverse and resume falling. In this case, the downside target may be the support area at 1.3640. After that, the instrument may break the area and continue the descending tendency. Still, there might be an alternative scenario, according to which the asset may continue growing to reach 1.3830 before resuming its decline.
