XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after forming a Hammer reversal pattern not far from the support level, XAUUSD is reversing and may continue forming its ascending impulse. In this case, the upside target may be the resistance area at 1845.00. At the same time, an opposite scenario implies that the price may correct towards 1815.00 before resuming its ascending tendency.
NZDUSD, “New Zealand vs US Dollar”
As we can see in the H4 chart, NZDUSD has formed a Hanging Man reversal pattern close to the resistance area. At the moment, the asset is reversing and may form a new descending impulse towards the support level. In this case, the downside target may be at 0.6845. After that, the asset may rebound from this level and resume moving upwards. However, an alternative scenario implies that the price may grow to reach 0.6915 without any corrections.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD has formed a Hanging Man reversal pattern near the resistance area. At the moment, the pair may reverse and start a new correctional impulse. In this case, the downside target may be at 1.3650. After testing the support level, the market may rebound from it and resume trading upwards. Still, there might be an alternative scenario, according to which the asset may continue growing to reach 1.3815 without any corrections.
Source: Roboforex
