Japanese Candlesticks Analysis 12.04.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, USDCAD has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The target for the decline might be 1.3390. Then the price could break this level and continue the downtrend. However, the price may pull back to 1.3510 before falling.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, USDCAD has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The target for the growth might be 0.6705. Upon testing the resistance, the quotes could break it and continue the uptrend. However, the price may pull back to 0.6640 before growing.
USDCHF, “US Dollar vs Swiss Franc”
On H4 near the resistance level, the pair has formed a Shooting Star reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The target for the decline might be 0.8940. After testing the support, the pair could break it and go on developing the downtrend. However, the price may pull back to 0.9055 before falling.
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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