XAU/USD
As we can see in the H4 chart, after testing the resistance level, forming a "Harami" pattern, and then reversing, XAU/USD is still moving sideways. There are no signals so far that might determine whether spot gold should rise or fall. Gold may resume its upward trend if it breaks resistance at $1760.00. At the same time, there might be another scenario in which gold falls back towards support at $1705.00.
NZD/USD
As we can see in the H4 chart, after forming several reversal patterns, such as "Harami", not far from support, NZD/USD is still moving inside a rising channel. The pair may possibly reverse and start a new correction to reach resistance at 0.6580. However, an opposite scenario implies that the kiwi may fall and return to the support at 0.6300.
GBP/USD
As we can see in the H4 chart, after forming a "Harami" pattern while testing support, GBP/USD has started reversing higher and this trend is expected to continue. The upside target is at 1.2665. The chart suggests, however, that the pair may turn south and head towards the first level of support at 1.2269.
Disclaimer: Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.