Japanese Candlesticks Analysis 08.06.2018 (USDCAD, AUDUSD)

08.06.2018

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is trading sideways. Right now, the price is testing the resistance level and forming Shooting Star reversal patterns. Judging by the previous movements, at the moment it may be assumed that the instrument may rebound from the resistance level and resume trading to the downside.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is still moving upwards and forming Doji, Hammer, and Inverted Hammer reversal patterns during corrections. Right now, the price is being corrected once again. Judging by the previous movements, it may be assumed that after finishing the correction the instrument may resume trading upwards.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.

The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.