Japanese Candlesticks Analysis 23.07.2019 (GOLD, NZDUSD)

23.07.2019

GOLD

Gold keeps forming an uptrend. On H4 the pair has formed a Hammer near the support level. If the signal for a reverse pattern is realized presently, we will, perhaps, see another growth of the price towards 1445.61. However, a reverse scenario is not to be excluded: the instrument may break through the lower border of the channel and test 1400.50.

NZDUSD

On H4 the pair, upon testing the horizontal resistance level around 0.6800, has formed a Hanging man. In the current trading situation the price has realized the signal for a reverse pattern and is testing the support level. It may bounce off this level and return to 0.6800. A reverse scenario is not to be excluded: the rice may break through the current support level and decline to 0.6660.