Japanese Candlesticks Analysis 19.05.2023 (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 could be 1.3410. Next, the price will have a chance to break the support and continue the downtrend. However, a correction to 1.3550 before the decline is not excluded.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the pair has formed an Engulfing reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 0.6680. After testing the resistance, the quotes might break it and continue developing the uptrend. However, the quotes might pull back to 0.6600 before rising.
USDCHF, “US Dollar vs Swiss Franc”
On H4, near the resistance, the pair has formed a Shooting Star reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 0.9025. Upon testing the support, the price might rebound from it and go on developing the uptrend. However, the price could rise to 0.9100 without any correction.
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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