XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the asset is still trading upwards. After forming several reversal patterns, such as Inverted Hammer, not from the support level, XAUUSD may reverse and start a new growth to reach the resistance area at 1830.00. At the same time, an opposite scenario implies that the price may correct towards 1795.00 before resuming its ascending tendency.
NZDUSD, “New Zealand vs US Dollar”
As we can see in the H4 chart, the asset is testing the channel’s upside border. By now, NZDUSD has formed several reversal patterns, such as Harami, close to the resistance level. At the moment, the asset may reverse and resume falling. In this case, the downside target is the support area at 0.6900. After testing this level, the asset may break it and continue moving downwards. However, an alternative scenario implies that the price may correct towards 0.7020 before resuming its decline.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, after finishing the correction, the asset is trading within the downtrend. By now, GBPUSD has formed several reversal patterns, such as Harami, not far from the resistance area. At the moment, the pair may reverse and start a new decline towards the support level. In this case, the downside target may be at 1.3640. After testing this level, the market may break it and continue falling. Still, there might be an alternative scenario, according to which the asset may grow towards the resistance area at 1.3800 before resuming its descending tendency.
