Japanese Candlesticks Analysis 04.07.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal pattern in an ascending wave. The correction target could be 1.3350. Next, the price might rebound from this level and continue the downtrend. However, the quotes could drop to 1.3175 without any correction to the resistance.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Doji reversal pattern on H4. Currently, the instrument is going by the reversal pattern in an ascending wave. The correction target could be 0.6715. Upon testing the resistance, the quotes could rebound from it and continue with the downtrend. However, the price might drop to 0.6560 without testing the resistance.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Harami reversal pattern on H4 by the support level. Currently, the instrument is going by the reversal pattern in an ascending wave. The growth target could be 0.9000. After testing the resistance, the quotes might get a chance to rebound from it and go on developing the downtrend. However, the quotes could drop to 0.8940 without testing the resistance.
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