Japanese Candlesticks Analysis 10.05.2018 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after finishing a slight ascending movement, USDCAD has returned to the support level and right now continues forming Hammer and Inverted Hammer reversal patterns. At the moment, it may be assumed that these candlesticks may force a new correction, after which the instrument may break the support level.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is still forming a lot of Hammer and Inverted Hammer reversal patterns. Judging by the previous movements, at the moment it may be assumed that these candlesticks indicate that the instrument may be corrected and then continue falling.
RoboMarkets Analytical Department
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.