Japanese Candlesticks Analysis 23.11.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has 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 1.3600. Next, the price might break the support level and continue its downward movement. However, the quotes could pull back to 1.3700 before a further decline.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target might be 0.6535. Upon testing the support, the quotes might rebound from it and develop an upward trajectory. However, the price could rise to 0.6610 without testing the support.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target could be 0.8860. After testing the resistance level, the price might rebound from it and develop a downtrend. However, the quotes could fall to 0.8790 without a 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.