XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD has formed a Hammer reversal pattern not far from the support area. At the moment, the asset is reversing in the form of a new rising impulse. In this case, the upside target may be the resistance level at 1885.50. At the same time, an opposite scenario implies that the price may correct to reach 1840.50 before resuming the 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 in the form of a new ascending impulse. In this case, the upside target may be at 0.6590. After that, the asset may rebound from the resistance level and continue moving upwards. However, an alternative scenario implies that the price may correct to reach 0.6445 first and then resume its growth.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD has formed an Inverted Hammer reversal pattern near the support level. At the moment, the pair is reversing in the form of a new rising impulse. If the price breaks the resistance area, the market may continue trading upwards. In this case, the upside target may be at 1.2745. Still, there might be an alternative scenario, according to which the asset may fall to reach 1.2545 before resuming the uptrend.
Source: Roboforex
