Japanese Candlesticks Analysis 24.05.023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, USDCAD has formed a Doji reversal pattern. Currently, the instrument could go by the reversal pattern in an ascending wave. The correction target might be 1.3555. Next, the price could rebound from this level and continue the downtrend. However, the quotes might drop to 1.3430 without testing the resistance.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, AUDUSD has formed a Hammer reversal pattern. Currently, the instrument could go by the reversal pattern in an ascending wave. The growth target might be 0.6685. Upon testing the resistance, the quotes could break it and go on developing the uptrend. However, the price might pull back to 0.6570 before rising.
USDCHF, “US Dollar vs Swiss Franc”
On H4, near the support level, USDCHF has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal pattern in an ascending wave. The growth target might be 0.9040. Upon testing the resistance, the price could break it and go on developing the uptrend. However, the price could correct to 0.8980 before rising.
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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