Japanese Candlesticks Analysis 26.12.2023 (XAUUSD, NZDUSD, GBPUSD)
Abstract：Gold has formed a Hanging Man reversal pattern. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 2040.00. Upon testing the support, the price could rebound from this level and continue developing the uptrend. However, the price might rise to 2085.00 without any correction.
XAUUSD, “Gold vs US Dollar”
Gold has formed a Hanging Man reversal pattern. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 2040.00. Upon testing the support, the price could rebound from this level and continue developing the uptrend. However, the price might rise to 2085.00 without any correction.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Hanging Man reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 0.6260. After a rebound from the support, the quotes might continue the uptrend. However, the price could grow to 0.6360 and develop the uptrend without any correction.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Harami reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The pullback target might be 1.2660. However, the price could rise to 1.2780 and extend the uptrend without testing the support.
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