Japanese Candlesticks Analysis 08.09.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hanging Man reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target might be 1.3620. Next, the price could rebound from the support and continue the uptrend. However, the quotes might rise to 1.3700 without any pullback.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The pullback target might be the 0.6440 level. Upon testing the resistance, the quotes could rebound from it and go on with the downtrend. However, the price might drop to 0.6355 without any correction.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 0.8875. Upon testing the support, the price might rebound from it and develop the uptrend further. However, the price could rise to 0.8935 without testing the support.
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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