Japanese Candlesticks Analysis 19.07.2023 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

Gold has formed a Shooting Star reversal pattern near the resistance level. Currently, the instrument is going by the reversal signal in a corrective wave. The pullback target might be 1965.00. Upon testing the support level, the price could get a chance to rebound from it and continue the uptrend. However, the quotes might rise to 1985.00 without any correction.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD has formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target might be 0.6170. After the rebound from the support level, the quotes could get a chance to continue the uptrend. However, the price might rise to 0.6300 and develop the uptrend without testing the support.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has formed a Harami reversal pattern near the resistance level on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target might be 1.2840. However, the price could rise to 1.3000 and continue the uptrend without testing the support.