XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after forming a Stick Sandwich reversal pattern not far from the support level, XAUUSD is reversing and may continue forming its rising impulse. In this case, the upside target remains the resistance area at 1840.00. At the same time, an opposite scenario implies that the price may correct to reach 1820.00 first and then resume its ascending tendency.
NZDUSD, “New Zealand vs US Dollar”
As we can see in the H4 chart, NZDUSD has formed an Inverted Hammer reversal pattern close to the support area. At the moment, the asset is reversing and may form a new ascending impulse towards the resistance level. In this case, the upside target is at 0.6715. After that, the asset may break this level and continue moving upwards. However, an alternative scenario implies that the price may correct to reach 0.6620 before resuming its uptrend.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD has formed reversal patterns, such as Hammer and Harami, near the support area. At the moment, the pair is reversing in the form of a new rising impulse. In this case, the upside target may be at 1.3650. After testing the resistance level, the market may break it and continue trading upwards. Still, there might be an alternative scenario, according to which the asset may correct to reach 1.3520 before resuming its growth.
Source: Roboforex
