Japanese Candlesticks Analysis 08.11.2019 (GOLD, NZDUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the rising channel’s downside border is broken. XAUUSD has completed Harami reversal pattern close to the support level. At the moment, the pair is reversing. In the future, the price may grow with the target at 1495.50. At the same time, we shouldn’t exclude an opposite scenario, which implies that the instrument may continue falling to update its closest lows.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, the ascending tendency continues. After forming Hammer pattern near the support level, NZDUSD is reversing. Right now, the pair is forming another correction, which may later be followed by further growth to reach 0.6470. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may fall towards 0.6342 and update its closest lows.