Japanese Candlesticks Analysis 25.02.2021 (GOLD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the rising impulse continues. After forming several reversal patterns, such as Hammer, close to the horizontal support level, XAUUSD is reversing and may later resume growing towards the resistance area. In this case, the upside target will be at 1830.00. At the same time, an opposite scenario implies that the price may continue its decline towards 1760.00 before further growth.



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 correcting within the uptrend again. By now, NZDUSD has formed several reversal patterns, such as Harami, close to the resistance level. The correctional target may be the support area at 0.7370. However, an alternative scenario implies that the price may continue its growth towards 0.7520 without reversing and correcting.

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 forming another wave within the uptrend. Right now, after forming several reversal patterns, such as Harami, not far from the resistance area, GBPUSD may correct and reach the support area at 1.4020. After that, the instrument may rebound from this level and resume moving upwards to reach the upside target at 1.4300.

GBPUSD

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

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Source: RoboForex


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