Japanese Candlesticks Analysis 22.12.2023 (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 pullback target might be 1.3340. Next, the price might rebound from the resistance and continue the downtrend. However, the quotes could drop to 1.3250 without any correction.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target might be 0.6735. Upon testing the support, the quotes could rebound from it and continue the uptrend. However, the price might rise to 0.6840 without any substantial 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 0.8610. Upon testing the resistance, the price could rebound from it and continue with the downtrend. However, the quotes might drop to 0.8530 without any test of 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.