Japanese Candlesticks Analysis 20.11.2023 (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 growth target could be 1.3780. Next, the price has a chance to break the resistance level and extend the uptrend. However, the quotes could pull back to 1.3670 before continuing the uptrend.
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 could be 0.6595. Upon testing the resistance, the quotes might break it and continue developing the uptrend. However, the price might correct to 0.6510 before proceeding by the uptrend.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF 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 0.8890. Upon testing the resistance, the price could rebound from it and continue developing the downtrend. However, the price might drop to 0.8800 without any correction.
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.