Japanese Candlesticks Analysis 07.04.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, USDCAD has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The target for the correction could be 1.3545. Then the price could rebound from this level and go on with the downtrend. However, the price may drop to 1.3430 without testing the resistance.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, AUDUSD has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The target for the growth could be 0.6740. Upon testing the resistance, the quotes could break it and continue the uptrend. However, the quotes may pull back to 0.6655 before growing.
USDCHF, “US Dollar vs Swiss Franc”
On H4, near the support level USDCHF has formed a Hammer reversal pattern again. Currently, the instrument is going by the reversal signal in an ascending wave. The target for the growth could be 0.9095. After testing the resistance, the price could rebound from it and continue the downtrend. However, the price may drop to 0.9000 directly without correcting to the resistance.
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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