Japanese Candlesticks Analysis 19.12.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The pullback target might be 1.3450. Next, the price could rebound from the resistance and extend the downtrend. However, the quotes could drop to 1.3340 without any correction.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Hanging Man reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 0.6675. Upon testing the support, the quotes could rebound from it and continue the uptrend. However, the price might rise to 0.6770 without any correction.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be 0.8715. Upon testing the resistance, the quotes could rebound from it and continue developing the downtrend. However, the price might drop to 0.8610 without testing the resistance.
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.