XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after forming an Engulfing reversal pattern during the pullback not far from the support level, XAUUSD is reversing and may continue forming its ascending impulse. In this case, the upside target remains at the resistance area at 1845.00. At the same time, an opposite scenario implies that the price may correct towards 1800.00 before resuming its ascending tendency.
NZDUSD, “New Zealand vs US Dollar”
As we can see in the H4 chart, NZDUSD has formed a Harami 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 remains at 0.6845. After that, the asset may break this level and continue moving upwards. However, an alternative scenario implies that the price may correct to reach 0.6765 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 Stick Sandwich pattern near the support level. At the moment, the pair may reverse and start a new rising impulse. In this case, the upside target may be at 1.3770. After testing the resistance area, 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 1.3545 before resuming the uptrend.
Source: Roboforex
