Japanese Candlesticks Analysis 05.05.2020 (GOLD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Having tested a horizontal support level, gold formed a reversal Harami pattern. Currently, the pair keeps working off the signal of the candlestick pattern. The target level of the growth remains at 1750.00. However, the price may still return to 1672.00.
NZDUSD, “New Zealand vs. US Dollar”
On H4, the pair is still moving inside an ascending channel. It keeps working off the signal of a reversal Harami pattern. The target level of growth is 0.6147. However, the price may still correct to 0.6020 before the ascending dynamics resumes.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the pair tested the lower border of the channel and formed several reversal patterns, including an inverted Hammer. It is currently moving inside an ascending channel, working off the signals of the reversal patterns. At the present stage, the target level for the growth is 1.2582. However, the price may pull back to 1.2425 before it goes on growing.
