XAUUSD Three Inside Down 4-Hour Chart
Resistance: 1752.26 moderate/1756.96 minor/1765.78 minor
Support: 1743.44 strong/1738.74 moderate/1729.92 minor
We have a bullish bias in XAUUSD 4-Hour charts with prices just under a moderate resistance level. Candlesticks show a high level bearish reversal pattern Three Inside Down. Consider shorts at market for 1743.44 break of which should see us easing off to 1738.74. Stops should be placed above 1752.26 or the patterns high.
NZDUSD Bullish Engulfing Hourly Chart
Resistance: 0.8183 moderate/0.8225 minor/0.8262 minor
Support: 0.8146 strong/0.8104 moderate/0.8066 minor
NZDUSD is generally bullish though prices are just under a moderate resistance at 0.8183. With a mid level bullish candlestick pattern, Bullish Engulfing in Hourly charts, look for possible buys on a close above the said price. Immediate target is 0.8225 possibly 0.8262 on a break of the latter. A stop loss should be placed below the pattern low or alternatively just under 0.8146.
USDCHF Three Inside Down Hourly Chart
Resistance: 0.9232 moderate/0.9284 strong / 0.9311 moderate
Support: 0.9204 minor/0.9153 minor
The Three Inside Down in Hourly charts is a confirmation of the overall bearish trend for USDCHF. With moderate resistance at 0.9232 consider shorts at market given the high credibility bearish pattern with a stop loss above it. Alternatively stops could be placed above the pattern high. Immediate objective is 0.9204, break of which opens us to a sell-off to 0.9153.
Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices