Daily Free Forex Signals For 21/07/2020
rfxsignals December 29, 2020 No Comments

Japanese Candlesticks Analysis 29.12.2020 (GOLD, NZDUSD, GBPUSD)

29.12.2020

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. Right now, after forming several reversal patterns, such as EngulfingDoji, and Harami, close to the support area, XAUUSD may reverse and resume growing towards the resistance level. In this case, the upside target will be at 1925.00. At the same time, an opposite scenario implies that the price may start another decline to return to 1850.00 before resuming its growth.

XAUUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, the pair is forming another rising impulse. Right now, after forming a Hammer pattern close to the horizontal support level, NZDUSD is still reversing. The upside target remains at the resistance area at 0.7175. However, an alternative scenario implies that the price may start a new pullback towards 0.7055 before resuming the ascending tendency.

NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the asset is still correcting within the uptrend. Right now, after forming several reversal patterns, such as Hanging Man, not far from the resistance area, GBPUSD is reversing. The downside target is at 1.3390. After that, the instrument may rebound from the support level and resume moving upwards. Still, there might be an alternative scenario, according to which the asset may continue growing to reach 1.3625 without correcting towards the support area.

GBPUSD