Japanese Candlesticks Analysis 17.05.2018 (GOLD, NZDUSD)

17.05.2018

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after reaching the support level and forming several Hammer, Inverted Hammer, and Engulfing reversal patterns, XAUUSD has been slightly corrected. Judging by the previous movements, it may be assumed that after finishing the correction the price may continue moving downwards despite the above-mentioned reversal patterns.

GOLD
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, after reaching another low, NZDUSD has been corrected and formed several Shooting Star and Harami reversal patterns at the top. Judging by the previous movements, at the moment it may be assumed that the correction is over and the instrument may resume its decline.

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

 

RoboMarkets Analytical Department

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.

The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law 144(I)/2007 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.

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