Japanese Candlesticks Analysis 18.03.2024 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

Gold has formed a Shooting Star reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The correction target might be the 2130.00 level. After the test of the support, the price might rebound from it and develop the uptrend further. However, the quotes could rise to 2190.00 without testing the support.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be the 0.6135 level. Once the resistance is breached, the quotes could continue the uptrend. However, the quotes might correct to 0.6065 before growing.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be the 1.2795 level. However, the quotes might correct to 1.2705 and extend the uptrend after testing the support.