Japanese Candlesticks Analysis 10.08.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD quotes have formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target could be 1.3365. Next, the price could rebound from the support level and develop an uptrend. However, the quotes could rise to 1.3480 without testing the support level.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes have formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 0.6615. Upon testing the resistance level, the quotes could break it and continue the uptrend. However, the quotes could drop to 0.6500 before rising.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Harami reversal pattern on H4 while pulling back. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could still be 0.8835. Upon testing the resistance, the price could rebound from it and develop a downtrend. However, the quotes could drop to 0.8685 without testing the resistance level.
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