Japanese Candlesticks Analysis 16.05.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the pair has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The decline target might be 1.3420. Next, the price has a chance to break the level and continue the downtrend. However, the quotes could correct to 1.3540 before going down.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the pair has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The pullback target might be 0.6635. After testing the support level, the quotes might get a chance for a rebound from them and further development of an uptrend. However, the pair might rise to 0.6720 without any correction.
USDCHF, “US Dollar vs Swiss Franc”
On H4, near the resistance level, the pair has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The decline target might be 0.8915. Upon testing the support level, the pair might break it and continue the downtrend. However, the price could pull back to 0.9000 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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