Japanese Candlesticks Analysis 20.07.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be 1.3175. Next, the price might rebound from the resistance level and continue the downtrend. However, the quotes could drop to 1.3100 without any pullback.
AUDUSD, “Australian Dollar vs US Dollar”
AUDCAD 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 0.6890. Upon testing the resistance, the quotes might break it and enforce the uptrend. However, the price could correct to 0.6780 before rising.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be 0.8620. Upon testing the resistance, the price might rebound from it and develop the downtrend further. However, the price could drop to 0.8500 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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