Japanese Candlesticks Analysis 24.10.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Harami reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target might be 1.3740. Next, the price could break the resistance and extend the uptrend. However, the quotes might correct to 1.3640 before rising.
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 correction target could be 0.6390. Upon testing the resistance, the quotes might rebound from it and go on developing the downtrend. However, the price could drop to 0.6300 without pulling back to the resistance level.
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 growth target might be 0.8955. Upon testing the resistance, the quotes could rebound from it and go on developing the downtrend. However, the price could drop to 0.8860 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.