Japanese Candlesticks Analysis 05.09.2023 (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 signal in an ascending wave. The growth target might be 1.3670. Next, the price could break the resistance and continue the uptrend. However, a correction to 1.3570 before the rise is not excluded.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed an Engulfing reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target could be 0.6360. Upon testing the support level, the quotes might break it and continue with the downtrend. However, the price could correct to 0.6450 before the decline.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 0.8885. Upon testing the resistance, the price could break it and continue developing the uptrend. However, the price might pull back to 0.8830 before further growth.
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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