XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD has formed several reversal patterns, such as Hanging Man, not far from the resistance area. At the moment, the asset is reversing in the form of another correctional impulse. In this case, the downside correctional target may be the support level at 1960.00. At the same time, an opposite scenario implies that the price may grow to reach 1995.00 and continue the ascending tendency without any pullbacks.
NZDUSD, “New Zealand vs US Dollar”
As we can see in the H4 chart, NZDUSD has formed a Hammer reversal pattern close to the support area. At the moment, the asset is reversing in the form of a new ascending impulse. In this case, the upside target is at 0.6930. After that, the asset may break the resistance level and continue moving upwards. However, an alternative scenario implies that the price may correct to reach 0.6800 first and then resume trading to the upside.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD has formed a Hammer reversal pattern near the support area. At the moment, the pair is reversing and may form a new ascending impulse. In this case, the upside target may be at 1.3215. 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 1.3100 before resuming its growth.
Source: Roboforex
