Japanese Candlesticks Analysis 01.11.2019 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is still trading close to the resistance level and forming reversal patterns, such as Shooting Star and Hanging Man. Right now, the pair is trying to reverse. Later, the price may continue falling and reach 1.3030. However, we shouldn’t ignore another scenario, according to which the instrument may grow towards 1.3223.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has formed another reversal pattern, Harami, close to the rising channel’s upside border. At the moment, the pair is reversing. Judging by the previous movements, we may assume that the price may reverse and then return to 0.6815. However, we shouldn’t ignore an alternative scenario, which implies that the instrument may resume growing towards 0.6945.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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