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XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. After forming Shooting Star pattern outside the channel, XAUUSD started to reverse and returned inside the channel. Right now, price is forming a slight correction. If the pair reverses, it may resume falling towards 1382.22. At the same time, we shouldn’t exclude an opposite scenario, which implies that the price may update its closest high and continue moving upwards to reach 1441.85.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, after testing the horizontal resistance line, NZDUSD formed Hanging Man pattern at 0.6681. Right now, the price is trying to reverse. If it succeeds, the pair may fall towards the support line 0.6575. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may update the high and grow to reach 0.6722.
Article By RoboForex.com
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.