Japanese Candlesticks Analysis 02.05.2018 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD has formed several Shooting Star and Engulfing reversal patterns. At the moment, it may be assumed that these reversal patterns below the resistance level indicate that the instrument may rebound from the level.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has reached another support level and formed several Engulfing and Hammer reversal patterns there. Judging by the previous movements, at the moment it may be assumed that these candlesticks indicate a possible pullback before the instrument resumes falling.
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