Japanese Candlesticks Analysis 20.04.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the pair has formed a Hammer reversal pattern. The instrument is now going by the reversal signal in an ascending wave. The target for the correction could be 1.3520. Then the price could rebound from this level and continue the downtrend. However, it may still drop to 1.3410 without testing the resistance.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the pair has formed a Hammer reversal pattern. The instrument is now going by the reversal signal in an ascending wave. The target for the growth could be 0.6765. After testing the resistance, the quotes could break it and continue with the uptrend. However, the price may pull back to 0.6695 before growing.
USDCHF, “US Dollar vs Swiss Franc”
On H4, near the resistance, the pair has formed a Harami reversal pattern. The instrument is now going by the reversal signal in a descending wave. The target for the decline could be 0.8870. After testing the support, the price could break it and continue with the downtrend. However, the quotes may 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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