Japanese Candlesticks Analysis 19.10.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD quotes have formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.3790. Next, the price might break the resistance and continue the uptrend. However, the quotes could correct to 1.3690 before rising.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes have formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target could be 0.6255. Upon testing the support, the quotes might break it and go on by the downtrend. However, the price could correct to 0.6335 before a further decline.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes have formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 0.9070. Upon testing the resistance, the price might break it and extend the uptrend. However, the price could pull back to 0.8960 before growing.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.