Japanese Candlesticks Analysis 18.08.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hanging Man reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 1.3510. Next, the price could rebound from the support and continue the uptrend. However, the quotes might rise to 1.3610 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 growth target could be 0.6470. Upon testing the resistance, the quotes might rebound from it and go on developing the downtrend. However, the price could drop to 0.6350 without any correction.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target might be 0.8730. Upon testing the support level, the price could break it and go on developing the downtrend. However, the quotes might correct to 0.8840 before any decline.
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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