Japanese Candlesticks Analysis 27.01.2020 (USDCAD, AUDUSD)

27.01.2020

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the sideways movement was followed by a slight growth. By now, the pair has reversed after forming Hanging Man pattern. The current situation implies that USDCAD may continue growing to test 1.3185 and then resume trading downwards to reach 1.3088 to continue forming the ascending channel.

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, the pair has completed another decline: it has formed several reversal patterns, such as Hammer, not far from the support level. Right now, AUDUSD is starting to reverse; the upside target may be at 0.6870. However, we shouldn’t ignore an alternative scenario, which implies that the instrument may continue falling towards 0.6777.

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.