Japanese Candlesticks Analysis 04.04.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the pair has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The target for the correction might be 1.3495. Then the price could rebound from this level and continue the downtrend. However, the quotes may drop to 1.3380 without pulling back.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the currency pair has formed a Hanging Man reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The target for the correction might be 0.6735. After testing the support, the quotes could rebound from it and go on developing the uptrend. However, the price may grow to 0.6815 without testing the support.
USDCHF, “US Dollar vs Swiss Franc”
On H4, near the support, the pair has again formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The target for the growth might be 0.9200. Upon testing the resistance, the price could break it and go on developing the uptrend. However, the price may pull back to 0.9100 before growing.
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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