Japanese Candlesticks Analysis 29.10.2019 (USDCAD, AUDUSD)
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is still trading close to the support level and forming reversal patterns, such as Doji, Hammer, and Inverted Hammer. Right now, the pair is trying to reverse and may continue growing towards 1.3186. However, we shouldn’t ignore another scenario, according to which the instrument may fall to reach 1.3030.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has formed another reversal pattern, Hammer, in the middle of the rising channel. At the moment, the pair is reversing. Judging by the previous movements, we may assume that the price may reverse and then return to 0.6880. However, we shouldn’t ignore an alternative scenario, which implies that the instrument may resume falling towards 0.6777.
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.
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