Japanese Candlesticks Analysis 25.07.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be 1.3200. Next, the price might rebound from the resistance and continue the downtrend. However, the quotes could drop to 1.3120 without pulling back.
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 might be 0.6825. Upon testing the resistance, the quotes might break it and enforce the uptrend further. However, the quotes could correct to 0.6730 before the rise.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be 0.8770. Upon testing the resistance, the price could rebound from it and go on by the downtrend. However, the quotes might drop to 0.8600 without testing the resistance level.
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