Japanese Candlesticks Analysis 24.12.2019 (GOLD, NZDUSD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. Right now, XAUUSD is moving to reach the rising channel’s upside border. In this case, the target is at 1492.00 where the price may form a reversal pattern. Later, the pair may start a new correction and resume falling with the target at 1474.00. At the same time, we shouldn’t exclude an opposite scenario, which implies that the instrument may continue trading upwards without any corrections.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the ascending tendency continues. After forming several reversal patterns, including Shooting Star, near the channel’s upside border, NZDUSD is still trading inside the range; the downside target may be the closest support level at 0.6561. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may update its highs and grow towards 0.6645.