Japanese Candlesticks Analysis 07.05.2018 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD continues moving sideways and forming a lot of Shooting Star, Doji, and Hanging Man reversal patterns. At the moment, it may be assumed that the instrument may rebound from the resistance level and resume falling towards the support one.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has reached another support level and is still forming many reversal patters, such as Hammer, Inverted Hammer, and Engulfing reversal patterns. Judging by the previous movements, at the moment it may be assumed that these candlesticks indicate that the instrument may break the support level and then continue falling.
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