Japanese Candlesticks Analysis 17.05.2019 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is trading inside the triangle. After forming Hammer pattern, the price rebounded from the support level; right now, it is moving upwards. This ascending movement may reach 1.34945 and then the instrument may start a new correction towards 1.34150.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the descending tendency continues. When testing the upside border of the range, AUDUSD formed Engulfing pattern. Right now, the price is moving downwards. This decline may reach 0.68600 and then the instrument may start a new correction towards the upside border of the range at 0.68950.
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